Meeder Asset Management Inc. Acquires Shares of 990 Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Meeder Asset Management Inc. purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 990 shares of the bank’s stock, valued at approximately $71,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. AlphaMark Advisors LLC increased its stake in shares of Texas Capital Bancshares by 2.6% during the third quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank’s stock worth $386,000 after acquiring an additional 139 shares during the period. Blue Trust Inc. boosted its holdings in Texas Capital Bancshares by 89.9% during the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after buying an additional 169 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Texas Capital Bancshares by 3.5% during the third quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank’s stock worth $383,000 after buying an additional 180 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in Texas Capital Bancshares by 1.1% during the third quarter. Tectonic Advisors LLC now owns 22,818 shares of the bank’s stock worth $1,631,000 after buying an additional 244 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in Texas Capital Bancshares by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank’s stock worth $828,000 after buying an additional 257 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was bought at an average price 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 30.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, October 18th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Hovde Group upped their price target on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Truist Financial upped their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the company from $77.00 to $82.00 in a report on Friday, October 18th. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.00.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $83.90 on Thursday. Texas Capital Bancshares, Inc. has a one year low of $53.16 and a one year high of $91.29. 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 company has a 50 day moving average price of $76.91 and a 200 day moving average price of $67.26. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 466.11, a price-to-earnings-growth ratio of 0.83 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The firm had revenue of $304.91 million during the quarter, compared to analyst estimates of $279.64 million. Sell-side analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 EPS 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.