Headlands Technologies LLC Acquires 6,117 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Key Points

• Headlands Technologies LLC increased its stake in Texas Capital Bancshares by 167.8% in the first quarter, now owning 9,762 shares, valued at $729,000.
• Director Robert W. Stallings acquired 10,500 shares for $212,940, increasing his ownership in the company by 21.21%.
• Texas Capital Bancshares reported earnings per share of $1.63 for the last quarter, exceeding analysts' estimates of $1.28, with revenues of $307.46 million.

Headlands Technologies LLC grew its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 167.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,762 shares of the bank's stock after acquiring an additional 6,117 shares during the period. Headlands Technologies LLC's holdings in Texas Capital Bancshares were worth $729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TCBI. Azora Capital LP bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth about $25,232,000. SG Americas Securities LLC acquired a new stake in shares of Texas Capital Bancshares during the 1st quarter worth approximately $16,938,000. Millennium Management LLC grew its position in shares of Texas Capital Bancshares by 60.6% during the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock worth $30,144,000 after buying an additional 145,393 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter worth approximately $6,979,000. Finally, Northern Trust Corp grew its position in shares of Texas Capital Bancshares by 12.0% during the 4th quarter. Northern Trust Corp now owns 660,478 shares of the bank's stock worth $51,649,000 after buying an additional 70,804 shares during the period. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Stock Up 1.7%

Shares of Texas Capital Bancshares stock traded up $1.41 on Wednesday, hitting $83.92. The company had a trading volume of 138,844 shares, compared to its average volume of 491,982. The firm has a market capitalization of $3.84 billion, a P/E ratio of 33.30, a P/E/G ratio of 0.66 and a beta of 0.65. Texas Capital Bancshares, Inc. has a twelve month low of $58.14 and a twelve month high of $94.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50-day moving average of $81.74 and a 200-day moving average of $76.39.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $307.46 million during the quarter, compared to analysts' expectations of $298.90 million. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. During the same quarter in the prior year, the company earned $0.80 earnings per share. Research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TCBI shares. Piper Sandler lowered their price target on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods lifted their price target on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Barclays boosted their price objective on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a report on Friday, July 18th. Finally, Jefferies Financial Group set a $80.00 price objective on shares of Texas Capital Bancshares and gave the company a "hold" rating in a report on Wednesday, May 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.50.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,500 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of 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 SEC, which can be accessed through the SEC website. 1.72% of the stock is currently owned by corporate insiders.

Texas Capital Bancshares Company 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.