Tudor Investment Corp ET AL Invests $855,000 in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Tudor Investment Corp. initiated a new position in Texas Capital Bancshares (TCBI) in Q3, buying 10,120 shares worth about $855,000, and overall institutional ownership is very high at 96.88% with several large managers boosting stakes.
• Company insiders have been buying recently—Director Robert W. Stallings purchased 20,000 shares and Paola M. Arbour 1,000 shares; insiders acquired 49,500 shares (~$1.25M) in the past three months and now own 1.91% of the stock.
• Analysts have a consensus Hold rating with a target of about $100.75; TCBI trades near $103 and recently beat quarterly EPS estimates ($2.08 vs. $1.78) with a return on equity of 10.05%.

Tudor Investment Corp ET AL bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,120 shares of the bank's stock, valued at approximately $855,000.

A number of other hedge funds have also modified their holdings of TCBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Texas Capital Bancshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank's stock worth $2,062,000 after buying an additional 1,206 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Texas Capital Bancshares by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank's stock worth $41,837,000 after buying an additional 20,231 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Texas Capital Bancshares in the 1st quarter worth approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Texas Capital Bancshares by 29.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank's stock worth $8,050,000 after buying an additional 24,538 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Texas Capital Bancshares by 34.0% in the 2nd quarter. Invesco Ltd. now owns 149,559 shares of the bank's stock worth $11,875,000 after buying an additional 37,982 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of Texas Capital Bancshares stock in a transaction on Thursday, March 5th. The shares were purchased at an average cost of $22.69 per share, for a total transaction of $453,800.00. Following the completion of the acquisition, the director owned 169,587 shares in the company, valued at approximately $3,847,929.03. The trade was a 13.37% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paola M. Arbour bought 1,000 shares of Texas Capital Bancshares stock in a transaction on Wednesday, March 11th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $91,500.00. Following the completion of the acquisition, the director owned 6,671 shares of the company's stock, valued at approximately $610,396.50. This represents a 17.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 49,500 shares of company stock worth $1,252,855 in the last three months. Insiders own 1.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TCBI shares. Piper Sandler raised their price target on Texas Capital Bancshares from $86.00 to $96.00 and gave the company a "neutral" rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Texas Capital Bancshares in a report on Wednesday, January 28th. TD Cowen raised their price target on Texas Capital Bancshares from $103.00 to $110.00 and gave the company a "hold" rating in a report on Monday, January 26th. Hovde Group raised their price target on Texas Capital Bancshares from $93.00 to $102.00 and gave the company a "market perform" rating in a report on Tuesday, January 27th. Finally, Barclays raised their price target on Texas Capital Bancshares from $90.00 to $100.00 and gave the company an "underweight" rating in a report on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $100.75.

Texas Capital Bancshares Stock Up 0.9%

NASDAQ:TCBI opened at $103.15 on Wednesday. Texas Capital Bancshares, Inc. has a 12-month low of $62.50 and a 12-month high of $108.92. 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 firm has a market capitalization of $4.56 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.95 and a beta of 0.67. The stock's fifty day simple moving average is $97.69 and its 200-day simple moving average is $92.99.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.30. Texas Capital Bancshares had a return on equity of 10.05% and a net margin of 16.52%.The business had revenue of $327.48 million for the quarter, compared to analyst estimates of $324.09 million. During the same period last year, the company earned $1.43 EPS. Equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Texas Capital Bancshares Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.

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