AQR Capital Management LLC Has $65.22 Million Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

AQR Capital Management LLC grew its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 87.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,087,715 shares of the bank’s stock after purchasing an additional 506,094 shares during the period. AQR Capital Management LLC’s holdings in Texas Capital Bancshares were worth $65,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TCBI. Innealta Capital LLC bought a new stake in shares of Texas Capital Bancshares in the 2nd quarter valued at $26,000. CWM LLC grew its stake in Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares during the period. Mather Group LLC. bought a new stake in shares of Texas Capital Bancshares in the first quarter worth about $50,000. Fidelis Capital Partners LLC bought a new stake in shares of Texas Capital Bancshares in the first quarter worth about $54,000. Finally, TFO Wealth Partners LLC raised its position in shares of Texas Capital Bancshares by 123,750.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock worth $160,000 after purchasing an additional 2,475 shares during the period. 96.88% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Robert W. Stallings bought 10,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were bought at an average cost of $20.46 per share, with a total value of $204,600.00. Following the acquisition, the director now owns 31,294 shares in the company, valued at $640,275.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,000 shares of the stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $20.46 per share, with a total value of $204,600.00. Following the completion of the transaction, 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 SEC, which can be accessed through this link. Also, Director Robert W. Stallings acquired 15,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $400,000. The disclosure for this purchase can be found here. Insiders bought a total of 43,500 shares of company stock valued at $876,400 in the last quarter. Company insiders own 0.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TCBI. Wedbush boosted their price objective on Texas Capital Bancshares from $70.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday. Stephens upped their price target on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Citigroup restated a “sell” rating and set a $60.00 price objective on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Finally, Jefferies Financial Group lowered their target price on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.20.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $70.47 on Friday. 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 50 day moving average price of $65.80 and a 200 day moving average price of $61.93. The stock has a market capitalization of $3.26 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 1.02 and a beta of 1.13. Texas Capital Bancshares, Inc. has a 52 week low of $52.89 and a 52 week high of $74.57.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results 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 firm had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same period in the prior year, the business posted $1.33 earnings per share. Analysts predict that Texas Capital Bancshares, Inc. will post 3.44 earnings per share for the current fiscal year.

About Texas Capital Bancshares

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.