Rep. Josh Gottheimer Purchases Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Texas Capital Bancshares stock on October 31st. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/25/2024.

Texas Capital Bancshares Price Performance

NASDAQ TCBI opened at $84.09 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $3.89 billion, a P/E ratio of 467.17, a P/E/G ratio of 0.81 and a beta of 1.12. The business’s fifty day moving average is $73.66 and its two-hundred day moving average is $65.63. Texas Capital Bancshares, Inc. has a 1 year low of $53.16 and a 1 year high of $86.00.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was bought at an average cost of $21.28 per share, with a total value of $425,600.00. Following the completion of the transaction, the director now directly owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCBI. Innealta Capital LLC purchased a new position in Texas Capital Bancshares during the second quarter valued at approximately $26,000. Blue Trust Inc. grew its position in Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after acquiring an additional 169 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Texas Capital Bancshares in the first quarter worth approximately $54,000. CWM LLC grew its position in Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after acquiring an additional 275 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Texas Capital Bancshares in the third quarter worth approximately $71,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TCBI shares. DA Davidson lifted their price target on Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Truist Financial upped their price objective on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and upped their price objective for the company from $51.00 to $77.00 in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their price objective on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Finally, Stephens upped their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.00.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.