TD Asset Management Inc Has $2.10 Million Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

TD Asset Management Inc increased its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 26.6% in the second quarter, Holdings Channel reports. The institutional investor owned 34,278 shares of the bank’s stock after buying an additional 7,200 shares during the period. TD Asset Management Inc’s holdings in Texas Capital Bancshares were worth $2,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $26,000. CWM LLC grew its position 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 purchasing an additional 546 shares in the last quarter. Mather Group LLC. acquired a new stake in Texas Capital Bancshares in the 1st quarter valued at $50,000. Fidelis Capital Partners LLC acquired a new stake in Texas Capital Bancshares in the 1st quarter valued at $54,000. Finally, TFO Wealth Partners LLC lifted its position in Texas Capital Bancshares by 123,750.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock worth $160,000 after buying an additional 2,475 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Performance

TCBI opened at $70.13 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99. The business has a fifty day simple moving average of $64.55 and a 200 day simple moving average of $61.10. Texas Capital Bancshares, Inc. has a 1 year low of $52.89 and a 1 year high of $72.07. The company has a market capitalization of $3.24 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 0.97 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The business had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same period in the previous year, the firm posted $1.33 EPS. Research analysts expect that Texas Capital Bancshares, Inc. will post 3.43 EPS for the current year.

Analyst Upgrades and Downgrades

TCBI has been the subject of several analyst reports. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and raised their price objective for the company from $51.00 to $77.00 in a report on Monday, September 9th. Citigroup reaffirmed a “sell” rating and set a $60.00 price target on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Jefferies Financial Group cut their price objective 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. JPMorgan Chase & Co. raised their target price on shares of Texas Capital Bancshares from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. Finally, DA Davidson upped their price target on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $66.77.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 15,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $20.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $400,000. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Robert W. Stallings bought 15,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $400,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Stallings purchased 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was bought at an average cost of $19.93 per share, with a total value of $279,020.00. Following the purchase, the director now owns 55,294 shares of the company’s stock, valued at $1,102,009.42. The disclosure for this purchase can be found here. Insiders acquired 43,500 shares of company stock valued at $876,400 in the last quarter. Company insiders own 0.99% 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.