M&T Bank Corp Has $353,000 Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

M&T Bank Corp increased its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 6.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,946 shares of the bank’s stock after purchasing an additional 316 shares during the period. M&T Bank Corp’s holdings in Texas Capital Bancshares were worth $353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Algert Global LLC grew its stake in shares of Texas Capital Bancshares by 367.3% in the 3rd quarter. Algert Global LLC now owns 22,316 shares of the bank’s stock valued at $1,595,000 after purchasing an additional 17,540 shares during the period. AQR Capital Management LLC grew its position in Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after acquiring an additional 506,094 shares during the period. Jane Street Group LLC raised its stake in Texas Capital Bancshares by 107.2% during the third quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock worth $9,481,000 after acquiring an additional 68,632 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Texas Capital Bancshares by 26.6% during the second quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock valued at $2,096,000 after acquiring an additional 7,200 shares during the period. Finally, Hodges Capital Management Inc. boosted its stake in shares of Texas Capital Bancshares by 22.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 179,098 shares of the bank’s stock valued at $10,950,000 after purchasing an additional 32,248 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TCBI. DA Davidson increased their target price on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Royal Bank of Canada boosted their target price on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 price target on shares of Texas Capital Bancshares in a report on Monday, September 9th. Finally, Truist Financial boosted their price objective on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Four 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.69.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ:TCBI opened at $77.90 on Thursday. 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 1-year low of $54.68 and a 1-year high of $91.80. The stock has a market capitalization of $3.60 billion, a P/E ratio of 432.78, a P/E/G ratio of 0.80 and a beta of 1.14. The business has a 50-day moving average price of $83.02 and a two-hundred day moving average price of $70.89.

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 company had revenue of $304.91 million during the quarter, compared to analysts’ expectations of $279.64 million. Equities analysts predict that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Robert W. Stallings purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were bought at an average price of $21.28 per share, with a total value of $425,600.00. Following the purchase, the director now directly owns 84,587 shares in the company, valued at $1,800,011.36. This trade represents a 30.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 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.