Texas Capital Bancshares, Inc. $TCBI Stake Boosted by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Texas Capital Bancshares by 183.0% during the second quarter, bringing its holdings to worth $519,000.
• Texas Capital Bancshares reported a quarterly earnings per share of $1.63, exceeding the consensus estimate of $1.28 by $0.35.
• Currently, 96.88% of Texas Capital Bancshares' stock is held by institutional investors and hedge funds, indicating strong institutional support.

Bayforest Capital Ltd grew its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 183.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,534 shares of the bank's stock after acquiring an additional 4,225 shares during the period. Bayforest Capital Ltd's holdings in Texas Capital Bancshares were worth $519,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Texas Capital Bancshares in the 1st quarter valued at $528,000. Texas Capital Bank Wealth Management Services Inc lifted its position in Texas Capital Bancshares by 2,249.3% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank's stock worth $18,630,000 after acquiring an additional 238,785 shares during the last quarter. Intech Investment Management LLC lifted its position in Texas Capital Bancshares by 22.1% during the 1st quarter. Intech Investment Management LLC now owns 29,790 shares of the bank's stock worth $2,225,000 after acquiring an additional 5,393 shares during the last quarter. Edgestream Partners L.P. lifted its position in Texas Capital Bancshares by 28.8% during the 1st quarter. Edgestream Partners L.P. now owns 131,139 shares of the bank's stock worth $9,796,000 after acquiring an additional 29,341 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Texas Capital Bancshares during the first quarter valued at about $505,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock opened at $85.27 on Wednesday. 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 has a market capitalization of $3.90 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 0.65 and a beta of 0.67. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $94.61. The firm's 50-day moving average price is $85.09 and its two-hundred day moving average price is $78.80.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share 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 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 period in the prior year, the firm earned $0.80 earnings per share. On average, equities analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

TCBI has been the topic of several research reports. Cowen started coverage on Texas Capital Bancshares in a research note on Wednesday, September 24th. They set a "hold" rating on the stock. JPMorgan Chase & Co. upped their price target on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. TD Cowen raised Texas Capital Bancshares to a "hold" rating in a report on Thursday, September 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Texas Capital Bancshares in a report on Wednesday, October 8th. Finally, 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. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $84.23.

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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