Texas Capital Bancshares, Inc. $TCBI Shares Bought by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Texas Capital Bancshares by 8.8% in Q1, now owning 359,972 shares valued at approximately $26.89 million.
• Texas Capital Bancshares reported $1.63 EPS for the last quarter, exceeding analysts' expectations of $1.28, with total revenue of $307.46 million.
• Over 96% of Texas Capital Bancshares stock is held by institutional investors and hedge funds, indicating strong institutional interest in the company.

Jacobs Levy Equity Management Inc. grew its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 8.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 359,972 shares of the bank's stock after buying an additional 29,074 shares during the period. Jacobs Levy Equity Management Inc. owned 0.78% of Texas Capital Bancshares worth $26,890,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TCBI. UMB Bank n.a. raised its position in shares of Texas Capital Bancshares by 1,089.8% in the first quarter. UMB Bank n.a. now owns 583 shares of the bank's stock valued at $44,000 after buying an additional 534 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Texas Capital Bancshares by 127.0% in the first quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock valued at $62,000 after buying an additional 465 shares during the last quarter. State of Wyoming acquired a new stake in shares of Texas Capital Bancshares in the first quarter valued at about $70,000. Bayforest Capital Ltd raised its position in shares of Texas Capital Bancshares by 69.7% in the first quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock valued at $172,000 after buying an additional 948 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Texas Capital Bancshares in the first quarter valued at about $204,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TCBI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their target price on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Hovde Group upped their price objective on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a report on Friday, July 18th. 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. Finally, Barclays increased their target price on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.00.

Texas Capital Bancshares Stock Up 0.7%

NASDAQ:TCBI traded up $0.64 during mid-day trading on Wednesday, hitting $87.17. The stock had a trading volume of 272,984 shares, compared to its average volume of 487,358. The stock has a 50-day simple moving average of $85.36 and a two-hundred day simple moving average of $77.08. The company has a market capitalization of $3.99 billion, a PE ratio of 34.59, a PEG ratio of 0.72 and a beta of 0.69. Texas Capital Bancshares, Inc. has a twelve month low of $59.37 and a twelve month high of $94.61. 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 (NASDAQ:TCBI - Get Free Report) last issued its 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 firm had revenue of $307.46 million for 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 last year, the company earned $0.80 earnings per share. On average, equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

About Texas Capital Bancshares

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.