Principal Financial Group Inc. Has $8.30 Million Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Principal Financial Group Inc. decreased its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 106,131 shares of the bank’s stock after selling 1,107 shares during the period. Principal Financial Group Inc.’s holdings in Texas Capital Bancshares were worth $8,299,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TCBI. Blue Trust Inc. boosted its stake in shares of Texas Capital Bancshares by 89.9% during the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after acquiring an additional 169 shares during the period. Icon Wealth Advisors LLC bought a new position in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $31,000. R Squared Ltd bought a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $41,000. Meeder Asset Management Inc. bought a new position in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $71,000. Finally, KBC Group NV boosted its stake in shares of Texas Capital Bancshares by 64.2% during the 4th quarter. KBC Group NV now owns 2,172 shares of the bank’s stock worth $170,000 after acquiring an additional 849 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $79.16 on Friday. The stock has a fifty day moving average price of $79.13 and a 200-day moving average price of $77.32. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 61.84, a PEG ratio of 0.75 and a beta of 1.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares, Inc. has a fifty-two week low of $54.68 and a fifty-two week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. As a group, equities analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 7,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was bought at an average price of $21.32 per share, with a total value of $149,240.00. Following the acquisition, the director now owns 215,413 shares of the company’s stock, valued at approximately $4,592,605.16. This represents a 3.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders purchased 22,402 shares of company stock worth $510,777. 0.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on TCBI. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $95.00 target price (down from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Stephens reduced their target price on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reduced their price target on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Finally, DA Davidson reduced their price target on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $79.13.

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.