Turtle Creek Wealth Advisors LLC Acquires Shares of 9,641 Texas Capital Bancshares, Inc. $TCBI

Key Points

• Turtle Creek Wealth Advisors LLC acquired 9,641 shares of Texas Capital Bancshares, valued at approximately $765,000, in the second quarter.
• Institutional investors and hedge funds own 96.88% of Texas Capital Bancshares' stock, indicating significant institutional interest.
• Analyst ratings for Texas Capital Bancshares include three Buy ratings, eleven Holds, and three Sell ratings, with an average price target of $84.23.

Turtle Creek Wealth Advisors LLC acquired a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,641 shares of the bank's stock, valued at approximately $765,000.

Several other large investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its position in Texas Capital Bancshares by 0.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank's stock valued at $248,936,000 after acquiring an additional 26,786 shares in the last quarter. AQR Capital Management LLC grew its position in Texas Capital Bancshares by 84.8% in the first quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank's stock valued at $105,395,000 after acquiring an additional 657,630 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Texas Capital Bancshares by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 813,028 shares of the bank's stock valued at $60,733,000 after acquiring an additional 68,195 shares in the last quarter. Wellington Management Group LLP grew its position in Texas Capital Bancshares by 2.5% in the first quarter. Wellington Management Group LLP now owns 591,488 shares of the bank's stock valued at $44,184,000 after acquiring an additional 14,169 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Texas Capital Bancshares by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank's stock valued at $41,837,000 after acquiring an additional 20,231 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TCBI. Hovde Group increased their price objective on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Cowen began coverage on shares of Texas Capital Bancshares in a research report on Wednesday, September 24th. They set a "hold" rating for the company. Keefe, Bruyette & Woods raised 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. Zacks Research downgraded shares of Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 9th. Finally, TD Cowen raised shares of Texas Capital Bancshares to a "hold" rating in a research report on Thursday, September 25th. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $84.23.

Texas Capital Bancshares Stock Performance

Shares of TCBI opened at $77.08 on Friday. The business's fifty day moving average price is $85.09 and its 200 day moving average price is $78.84. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month high of $94.61. The stock has a market capitalization of $3.53 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 0.66 and a beta of 0.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $307.46 million for the quarter, compared to analysts' expectations of $298.90 million. During the same period last year, the business posted $0.80 earnings per share. Equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

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.

Want to see what other hedge funds are holding TCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.