Azora Capital LP Has $28.79 Million Position in Texas Capital Bancshares, Inc. $TCBI

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% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 385,424 shares of the bank's stock after acquiring an additional 62,765 shares during the quarter. Texas Capital Bancshares accounts for about 2.0% of Azora Capital LP's portfolio, making the stock its 17th biggest holding. Azora Capital LP owned 0.84% of Texas Capital Bancshares worth $28,791,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Texas Capital Bancshares during the first quarter valued at about $528,000. Texas Capital Bank Wealth Management Services Inc lifted its stake in 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 valued at $18,630,000 after buying an additional 238,785 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Texas Capital Bancshares during the fourth quarter valued at about $479,000. Bank of America Corp DE lifted its stake in 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 valued at $15,554,000 after buying an additional 39,832 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Texas Capital Bancshares during the first quarter valued at about $16,938,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on TCBI shares. JPMorgan Chase & Co. upped their price objective on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Keefe, Bruyette & Woods increased 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. Hovde Group increased their price target on shares of 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. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, Barclays increased their price target on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research report on Friday, July 18th. Four equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $83.50.

Texas Capital Bancshares Stock Performance

TCBI stock traded down $0.75 during midday trading on Wednesday, hitting $85.22. 62,591 shares of the company traded hands, compared to its average volume of 489,910. Texas Capital Bancshares, Inc. has a twelve month low of $59.37 and a twelve month high of $94.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The business has a 50 day simple moving average of $84.61 and a 200-day simple moving average of $76.88. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 0.71 and a beta of 0.69.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced 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 company had revenue of $307.46 million for the quarter, compared to the consensus estimate of $298.90 million. During the same quarter last year, the company posted $0.80 earnings per share. As a group, equities research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Insider Activity

In related news, Director Robert W. Stallings acquired 10,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the purchase, the director owned 60,000 shares in the company, valued at approximately $1,216,800. The trade was a 21.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.