Quest Partners LLC Makes New $629,000 Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Quest Partners LLC bought a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 10,280 shares of the bank’s stock, valued at approximately $629,000.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Texas Capital Bancshares during the 4th quarter valued at approximately $35,120,000. Rafferty Asset Management LLC grew its position in shares of Texas Capital Bancshares by 144.5% during the fourth quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock worth $7,959,000 after acquiring an additional 72,782 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Texas Capital Bancshares in the 2nd quarter worth about $675,000. Trexquant Investment LP bought a new stake in Texas Capital Bancshares in the 4th quarter valued at about $3,402,000. Finally, Goldman Sachs Group Inc. boosted its stake in Texas Capital Bancshares by 42.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after purchasing an additional 161,643 shares during the period. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Trading Down 0.5 %

Shares of NASDAQ:TCBI opened at $67.78 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 3.05 and a beta of 1.13. Texas Capital Bancshares, Inc. has a 1-year low of $52.89 and a 1-year high of $72.07. The company has a 50 day moving average price of $64.18 and a 200 day moving average price of $60.96.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same period in the prior year, the business earned $1.33 earnings per share. On average, research analysts anticipate that Texas Capital Bancshares, Inc. will post 3.31 EPS for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 15,000 shares of Texas Capital Bancshares stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $20.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at $400,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Robert W. Stallings acquired 15,000 shares of the stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $400,000. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert W. Stallings bought 14,000 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average price of $19.93 per share, with a total value of $279,020.00. Following the acquisition, the director now directly owns 55,294 shares of the company’s stock, valued at $1,102,009.42. The disclosure for this purchase can be found here. Insiders purchased 43,500 shares of company stock worth $876,400 in the last quarter. 0.99% of the stock is owned by company insiders.

Analyst Ratings Changes

TCBI has been the topic of several analyst reports. DA Davidson raised their price target on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday. Citigroup restated a “sell” rating and issued a $60.00 target price on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on Texas Capital Bancshares from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Monday. Wedbush increased their price target on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a research note on Monday. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.77.

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.