Wolverine Asset Management LLC Acquires 19,398 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Key Points

• Wolverine Asset Management LLC increased its holdings in Texas Capital Bancshares by 36.9%, owning 71,915 shares worth approximately $5.37 million as of the latest SEC filing.
• Texas Capital Bancshares reported an EPS of $1.63 for the last quarter, exceeding expectations, with a revenue of $307.46 million.
• Analysts currently have a consensus rating of "Hold" for Texas Capital Bancshares, with a price target averaging $83.50.

Wolverine Asset Management LLC increased its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 36.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,915 shares of the bank's stock after purchasing an additional 19,398 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.16% of Texas Capital Bancshares worth $5,372,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. increased its stake in Texas Capital Bancshares by 1,089.8% in the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after purchasing an additional 534 shares in the last quarter. GAMMA Investing LLC lifted its stake in Texas Capital Bancshares by 127.0% in the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock worth $62,000 after acquiring an additional 465 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Texas Capital Bancshares by 819.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock worth $116,000 after purchasing an additional 1,320 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of Texas Capital Bancshares by 69.7% during the 1st quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock worth $172,000 after purchasing an additional 948 shares in the last quarter. Finally, United Capital Financial Advisors LLC purchased a new stake in shares of Texas Capital Bancshares during the 4th quarter worth about $202,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 10,500 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were bought at an average price of $20.28 per share, with a total value of $212,940.00. Following the acquisition, the director owned 60,000 shares of the company's stock, valued at $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.72% of the company's stock.

Analysts Set New Price Targets

TCBI has been the subject of a number of recent research reports. Stephens cut their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. DA Davidson cut their price target on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Barclays raised their price target on Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research note on Friday, July 18th. Piper Sandler cut their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the company a "hold" rating in a report on Wednesday, May 21st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $83.50.

Texas Capital Bancshares Stock Performance

TCBI traded up $0.47 during midday trading on Friday, reaching $80.17. The company's stock had a trading volume of 325,581 shares, compared to its average volume of 579,412. The stock has a market cap of $3.67 billion, a P/E ratio of 31.81, a PEG ratio of 0.67 and a beta of 0.65. The company has a fifty day simple moving average of $81.38 and a 200 day simple moving average of $76.34. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. Texas Capital Bancshares, Inc. has a twelve month low of $58.03 and a twelve month high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.35. The firm had revenue of $307.46 million for the quarter, compared to analyst estimates of $298.90 million. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%. During the same quarter last year, the firm posted $0.80 EPS. Research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Texas Capital Bancshares Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.