Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 1.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,145,271 shares of the bank’s stock after purchasing an additional 13,022 shares during the period. Geode Capital Management LLC’s holdings in Texas Capital Bancshares were worth $81,856,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wellington Management Group LLP lifted its stake in Texas Capital Bancshares by 15.4% in the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after buying an additional 150,301 shares during the last quarter. AQR Capital Management LLC lifted its position in Texas Capital Bancshares by 87.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after purchasing an additional 506,094 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Texas Capital Bancshares by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock valued at $40,792,000 after purchasing an additional 10,171 shares during the last quarter. American Century Companies Inc. boosted its stake in Texas Capital Bancshares by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after purchasing an additional 171,263 shares during the period. Finally, Segall Bryant & Hamill LLC grew its position in Texas Capital Bancshares by 12.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 467,001 shares of the bank’s stock worth $33,372,000 after purchasing an additional 52,095 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TCBI shares. JPMorgan Chase & Co. lifted their price target on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, October 18th. DA Davidson increased 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. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $77.00 in a research note on Monday, September 9th. Barclays increased their target price on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Finally, Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and an average price target of $74.69.

Texas Capital Bancshares Trading Down 0.0 %

NASDAQ:TCBI opened at $76.77 on Friday. The stock has a fifty day simple moving average of $83.08 and a 200 day simple moving average of $70.93. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 426.50, a price-to-earnings-growth ratio of 0.80 and a beta of 1.14. Texas Capital Bancshares, Inc. has a 1-year low of $54.68 and a 1-year high of $91.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. Sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert W. Stallings purchased 20,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, October 22nd. The stock was acquired 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 $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.53% of the company’s stock.

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.