Cerity Partners LLC Increases Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Cerity Partners LLC grew its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 180.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,581 shares of the bank's stock after purchasing an additional 6,805 shares during the quarter. Cerity Partners LLC's holdings in Texas Capital Bancshares were worth $790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Texas Capital Bancshares in the fourth quarter worth approximately $42,050,000. Azora Capital LP bought a new position in shares of Texas Capital Bancshares in the fourth quarter valued at approximately $25,232,000. SG Americas Securities LLC bought a new position in shares of Texas Capital Bancshares in the first quarter valued at approximately $16,938,000. Millennium Management LLC grew its holdings in shares of Texas Capital Bancshares by 60.6% in the fourth quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock valued at $30,144,000 after acquiring an additional 145,393 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Texas Capital Bancshares by 22.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock valued at $58,246,000 after acquiring an additional 138,734 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Stock Down 1.3%

Texas Capital Bancshares stock traded down $1.13 during trading hours on Friday, hitting $85.30. 775,743 shares of the stock traded hands, compared to its average volume of 547,715. The firm's 50-day moving average price is $79.41 and its two-hundred day moving average price is $76.04. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.90 billion, a PE ratio of 33.85, a PEG ratio of 0.78 and a beta of 0.66. Texas Capital Bancshares, Inc. has a one year low of $56.24 and a one year high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%. The business had revenue of $307.46 million for the quarter, compared to analysts' expectations of $298.90 million. During the same period in the previous year, the firm posted $0.80 EPS. On average, research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,500 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average cost of $20.28 per share, with a total value of $212,940.00. Following the transaction, the director directly owned 60,000 shares in the company, valued at $1,216,800. This trade represents a 21.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders purchased 19,800 shares of company stock valued at $397,090. Insiders own 1.72% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TCBI shares. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the company a "hold" rating in a report on Wednesday, May 21st. Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. JPMorgan Chase & Co. increased their price objective on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Hovde Group lifted their price objective on Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Finally, Raymond James Financial lowered their price target on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of "Hold" and an average target price of $83.50.

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.