Point72 Hong Kong Ltd Acquires New Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Point72 Hong Kong Ltd acquired a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,308 shares of the bank's stock, valued at approximately $1,901,000. Point72 Hong Kong Ltd owned approximately 0.05% of Texas Capital Bancshares as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. ProShare Advisors LLC raised its stake in shares of Texas Capital Bancshares by 41.2% during the 4th quarter. ProShare Advisors LLC now owns 15,221 shares of the bank's stock worth $1,190,000 after acquiring an additional 4,443 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $479,000. Occudo Quantitative Strategies LP bought a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $784,000. Millennium Management LLC raised its stake in shares of Texas Capital Bancshares by 60.6% during the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock worth $30,144,000 after acquiring an additional 145,393 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Texas Capital Bancshares by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,397 shares of the bank's stock worth $2,064,000 after acquiring an additional 1,011 shares in the last quarter. Institutional investors own 96.88% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James reduced their price objective on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their target price on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. DA Davidson dropped 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 research report on Monday, April 21st. JPMorgan Chase & Co. dropped their target price on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Finally, Barclays dropped their target price on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $78.00.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI traded down $1.48 during mid-day trading on Wednesday, reaching $73.87. 69,797 shares of the stock were exchanged, compared to its average volume of 503,518. The business's 50 day moving average is $70.42 and its 200-day moving average is $77.28. Texas Capital Bancshares, Inc. has a 1 year low of $56.24 and a 1 year high of $91.80. The company has a market capitalization of $3.39 billion, a P/E ratio of 57.71, a P/E/G ratio of 0.75 and a beta of 0.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). The company had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. On average, equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 7,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $20.43 per share, for a total transaction of $143,010.00. Following the completion of the transaction, the director now directly owns 49,500 shares of the company's stock, valued at approximately $1,011,285. This represents a 16.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 19,300 shares of company stock worth $850,815 over the last three months. Insiders own 1.72% of the company's stock.

Texas Capital Bancshares 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.