Texas Permanent School Fund Corp Acquires 6,602 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Texas Permanent School Fund Corp raised its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 16.0% during the second quarter, Holdings Channel.com reports. The fund owned 47,944 shares of the bank’s stock after buying an additional 6,602 shares during the period. Texas Permanent School Fund Corp’s holdings in Texas Capital Bancshares were worth $2,931,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in Texas Capital Bancshares during the second quarter valued at about $26,000. CWM LLC lifted its position in shares of Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after buying an additional 546 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Texas Capital Bancshares in the first quarter worth about $50,000. Fidelis Capital Partners LLC purchased a new stake in shares of Texas Capital Bancshares in the first quarter worth about $54,000. Finally, TFO Wealth Partners LLC lifted its position in shares of Texas Capital Bancshares by 123,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock worth $160,000 after buying an additional 2,475 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average price of $20.46 per share, with a total value of $204,600.00. Following the completion of the purchase, the director now directly owns 31,294 shares in the company, valued at $640,275.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert W. Stallings bought 10,000 shares of the stock in a transaction on Monday, July 29th. The stock was bought at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the acquisition, the director now directly owns 31,294 shares in the company, valued at $640,275.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Stallings bought 4,000 shares of the stock in a transaction on Thursday, July 25th. The shares were bought at an average price of $20.62 per share, with a total value of $82,480.00. Following the acquisition, the director now owns 12,794 shares of the company’s stock, valued at $263,812.28. The disclosure for this purchase can be found here. Insiders have bought a total of 43,500 shares of company stock valued at $876,400 over the last quarter. 0.99% of the stock is owned by corporate insiders.

Texas Capital Bancshares Trading Up 2.8 %

TCBI opened at $70.13 on Monday. Texas Capital Bancshares, Inc. has a one year low of $52.89 and a one year high of $72.07. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 0.98 and a beta of 1.13. The stock’s 50 day moving average price is $64.55 and its 200-day moving average price is $61.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The firm had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same period last year, the company earned $1.33 EPS. On average, equities analysts forecast that Texas Capital Bancshares, Inc. will post 3.43 EPS for the current year.

Wall Street Analysts Forecast Growth

TCBI has been the topic of a number of research analyst reports. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. Citigroup reissued a “sell” rating and set a $60.00 price objective on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Wedbush boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on Texas Capital Bancshares from $70.00 to $73.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. Finally, Jefferies Financial Group reduced their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average 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.