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

Victory Capital Management Inc. grew its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 326.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,103 shares of the bank’s stock after acquiring an additional 53,669 shares during the period. Victory Capital Management Inc.’s holdings in Texas Capital Bancshares were worth $5,010,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in 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 in the last quarter. Innealta Capital LLC acquired a new position in shares of Texas Capital Bancshares in the 2nd quarter valued at about $26,000. CWM LLC boosted its holdings in shares of Texas Capital Bancshares by 40.8% in the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after buying an additional 275 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at about $201,000. Finally, NJ State Employees Deferred Compensation Plan acquired a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at about $214,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted 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. Hovde Group lifted 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. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lifted their price objective on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Finally, Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.00.

Texas Capital Bancshares Stock Up 3.1 %

TCBI stock opened at $87.73 on Friday. The firm’s 50-day moving average is $77.60 and its two-hundred day moving average is $67.57. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 487.39, a price-to-earnings-growth ratio of 0.82 and a beta of 1.12. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a 52 week low of $53.69 and a 52 week high of $91.29.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.65. The company had revenue of $304.91 million for the quarter, compared to analysts’ expectations of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. On average, analysts forecast that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 20,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were 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 in the company, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.99% of the company’s stock.

About Texas Capital Bancshares

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.