Texas Capital Bancshares, Inc. $TCBI Shares Bought by Texas Capital Bank Wealth Management Services Inc

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Texas Capital Bank Wealth Management Services Inc grew its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 2,249.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 249,401 shares of the bank's stock after buying an additional 238,785 shares during the period. Texas Capital Bancshares accounts for about 1.9% of Texas Capital Bank Wealth Management Services Inc's portfolio, making the stock its 7th biggest holding. Texas Capital Bank Wealth Management Services Inc owned approximately 0.54% of Texas Capital Bancshares worth $18,630,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TCBI. UMB Bank n.a. increased its stake in shares of Texas Capital Bancshares by 1,089.8% during the first quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after purchasing an additional 534 shares during the period. GAMMA Investing LLC increased its stake in shares of Texas Capital Bancshares by 127.0% during the first quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock worth $62,000 after purchasing an additional 465 shares during the period. Sterling Capital Management LLC increased its stake in shares of Texas Capital Bancshares by 819.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock worth $116,000 after purchasing an additional 1,320 shares during the period. Bayforest Capital Ltd increased its stake in shares of Texas Capital Bancshares by 69.7% during the first quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock worth $172,000 after purchasing an additional 948 shares during the period. Finally, United Capital Financial Advisors LLC bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth approximately $202,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TCBI. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Stephens lowered their price objective on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Hovde Group raised their price objective on Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. DA Davidson lowered their price objective on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, Raymond James Financial lowered their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently 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 business's stock in a transaction on 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 acquisition, the director owned 60,000 shares of the company's stock, valued at $1,216,800. This represents a 21.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.72% of the company's stock.

Texas Capital Bancshares Stock Up 0.5%

Shares of TCBI opened at $84.35 on Tuesday. The company has a market capitalization of $3.86 billion, a PE ratio of 33.47, a PEG ratio of 0.70 and a beta of 0.65. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $94.61. The stock's 50-day moving average price is $82.51 and its two-hundred day moving average price is $76.53. 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 announced its earnings results on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.28 by $0.35. The firm had revenue of $307.46 million for the quarter, compared to the consensus estimate of $298.90 million. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%. During the same period in the previous year, the business earned $0.80 EPS. On average, analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

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.

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