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

Point72 Hong Kong Ltd bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 24,308 shares of the bank's stock, valued at approximately $1,901,000. Point72 Hong Kong Ltd owned about 0.05% of Texas Capital Bancshares as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Texas Capital Bancshares in the fourth quarter worth $42,050,000. Azora Capital LP bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at about $25,232,000. Millennium Management LLC grew 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 valued at $30,144,000 after purchasing an additional 145,393 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Texas Capital Bancshares by 22.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock valued at $58,246,000 after purchasing an additional 138,734 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Texas Capital Bancshares by 75.5% in the 4th quarter. JPMorgan Chase & Co. now owns 317,292 shares of the bank's stock worth $24,812,000 after purchasing an additional 136,507 shares during the period. 96.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Piper Sandler cut their target price on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Barclays reduced their price objective on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Raymond James reduced their price objective on 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. DA Davidson reduced their price objective on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Hovde Group reduced their price objective on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $76.64.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 5,000 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $67.76 per share, with a total value of $338,800.00. Following the acquisition, the director now directly owns 90,039 shares of the company's stock, valued at approximately $6,101,042.64. The trade was a 5.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have bought 19,300 shares of company stock worth $850,815. Corporate insiders own 1.72% of the company's stock.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI traded down $0.22 during midday trading on Monday, reaching $75.61. 311,855 shares of the company were exchanged, compared to its average volume of 448,248. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.47 billion, a PE ratio of 59.07, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. The business's fifty day moving average is $70.27 and its two-hundred day moving average is $77.30. Texas Capital Bancshares, Inc. has a one year low of $56.24 and a one year high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). The firm had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. As a group, analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

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.