Texas Capital Bancshares, Inc. $TCBI Shares Bought by Azora Capital LP

Key Points

• Azora Capital LP increased its stake in Texas Capital Bancshares by 19.5%, owning 385,424 shares worth approximately $28.79 million after acquiring an additional 62,765 shares.
• Texas Capital Bancshares reported earnings per share of $1.63 for the last quarter, exceeding analysts' estimates of $1.28, and generating $307.46 million in revenue.
• Institutional investors and hedge funds collectively own 96.88% of Texas Capital Bancshares, reflecting significant confidence in the company from large investment firms.

Azora Capital LP raised its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 19.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385,424 shares of the bank's stock after buying an additional 62,765 shares during the period. Texas Capital Bancshares comprises about 2.0% of Azora Capital LP's holdings, making the stock its 17th largest position. Azora Capital LP owned 0.84% of Texas Capital Bancshares worth $28,791,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Texas Capital Bancshares during the first quarter worth about $528,000. Texas Capital Bank Wealth Management Services Inc increased its position in shares of Texas Capital Bancshares by 2,249.3% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank's stock worth $18,630,000 after purchasing an additional 238,785 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter worth about $479,000. Bank of America Corp DE increased its position in shares of Texas Capital Bancshares by 25.0% during the fourth quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock worth $15,554,000 after purchasing an additional 39,832 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Texas Capital Bancshares during the first quarter worth about $16,938,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $86.63 on Friday. 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 stock's 50 day moving average is $84.05 and its two-hundred day moving average is $76.84. Texas Capital Bancshares, Inc. has a twelve month low of $59.37 and a twelve month high of $94.61. The firm has a market capitalization of $3.96 billion, a PE ratio of 34.38, a P/E/G ratio of 0.73 and a beta of 0.65.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 EPS 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 during the quarter, compared to analysts' expectations of $298.90 million. During the same period last year, the firm earned $0.80 EPS. Research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TCBI. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Hovde Group lifted their target price on Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Citigroup boosted their price target on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods increased their price objective on Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $83.50.

Insider Buying and Selling

In related news, Director Robert W. Stallings bought 10,500 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were bought at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the transaction, the director owned 60,000 shares of the company's stock, valued at approximately $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.72% of the company's stock.

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.

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