Wellington Management Group LLP Acquires 14,169 Shares of Texas Capital Bancshares, Inc. $TCBI

Key Points

• Wellington Management Group LLP increased its stake in Texas Capital Bancshares by 2.5%, owning approximately 1.29% of the company, worth $44.2 million.
• Texas Capital Bancshares reported $1.63 EPS for the last quarter, surpassing expectations of $1.28, and achieved a revenue of $307.46 million.
• The stock has received mixed ratings from analysts, with a current average price target of $83.50 and recommendations ranging from "Buy" to "Sell."

Wellington Management Group LLP boosted its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 2.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 591,488 shares of the bank's stock after acquiring an additional 14,169 shares during the quarter. Wellington Management Group LLP owned 1.29% of Texas Capital Bancshares worth $44,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Texas Capital Bancshares during the 1st quarter valued at about $528,000. Nomura Holdings Inc. purchased a new stake in Texas Capital Bancshares during the 4th quarter valued at about $479,000. Bank of America Corp DE boosted its holdings in 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 valued at $15,554,000 after acquiring an additional 39,832 shares during the period. SG Americas Securities LLC purchased a new stake in Texas Capital Bancshares during the 1st quarter valued at about $16,938,000. Finally, Edgestream Partners L.P. boosted its holdings 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 valued at $9,796,000 after acquiring an additional 29,341 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robert W. Stallings acquired 10,500 shares of Texas Capital Bancshares stock in a transaction that occurred on 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 transaction, the director directly owned 60,000 shares in the company, valued at approximately $1,216,800. This represents a 21.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.72% of the stock is currently owned by company insiders.

Texas Capital Bancshares Stock Down 0.1%

TCBI stock traded down $0.06 on Friday, reaching $86.57. 532,479 shares of the company traded hands, compared to its average volume of 440,214. Texas Capital Bancshares, Inc. has a one year low of $59.37 and a one year high of $94.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $3.96 billion, a P/E ratio of 34.35, a price-to-earnings-growth ratio of 0.71 and a beta of 0.65. The firm has a fifty day simple moving average of $84.27 and a 200-day simple moving average of $76.86.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $307.46 million during the quarter, compared to analyst estimates of $298.90 million. During the same quarter last year, the company earned $0.80 EPS. Research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TCBI shares. Citigroup increased their target price on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a report on Friday, July 18th. Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the stock a "hold" rating in a report on Wednesday, May 21st. Hovde Group increased their price objective on Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. JPMorgan Chase & Co. increased their price objective on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $83.50.

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.