Victory Capital Management Inc. Has $8.80 Million Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Victory Capital Management Inc. grew its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 22.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,828 shares of the bank's stock after buying an additional 21,431 shares during the quarter. Victory Capital Management Inc. owned approximately 0.26% of Texas Capital Bancshares worth $8,802,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in Texas Capital Bancshares during the first quarter worth about $528,000. Nomura Holdings Inc. acquired a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $479,000. Bank of America Corp DE raised its stake in shares of Texas Capital Bancshares by 25.0% during the 4th quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock worth $15,554,000 after purchasing an additional 39,832 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Texas Capital Bancshares during the 1st quarter worth approximately $16,938,000. Finally, Edgestream Partners L.P. boosted its holdings in shares of Texas Capital Bancshares by 28.8% in the 1st quarter. Edgestream Partners L.P. now owns 131,139 shares of the bank's stock valued at $9,796,000 after buying an additional 29,341 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,500 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of the transaction, the director owned 60,000 shares in the company, valued at $1,216,800. The trade was a 21.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders acquired 19,800 shares of company stock worth $397,090. 1.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TCBI shares. DA Davidson lowered their target price on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Barclays lifted their price objective on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a research report on Friday, July 18th. Stephens dropped their target price on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Piper Sandler reduced their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Hovde Group boosted their price target on 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $83.50.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ:TCBI traded down $1.13 during trading on Friday, reaching $85.30. 775,743 shares of the stock were exchanged, compared to its average volume of 547,715. Texas Capital Bancshares, Inc. has a 12 month low of $56.24 and a 12 month high of $94.61. The stock has a 50-day moving average price of $79.41 and a 200-day moving average price of $76.04. 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 firm has a market cap of $3.90 billion, a PE ratio of 33.85, a PEG ratio of 0.79 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results 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 business had revenue of $307.46 million during the quarter, compared to analysts' expectations 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 last year, the firm posted $0.80 EPS. Research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal 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.