Louisiana State Employees Retirement System increased its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ: TCBI – Get Rating) by 2.3% during the first quarter, reports Holdings Channel.com. The company held 13,300 shares of the bank after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Texas Capital Bancshares were worth $761,000 at the end of the most recent reporting period.
Several other hedge funds have also recently changed their positions in the company. Exane Derivatives acquired a new position in shares of Texas Capital Bancshares during the first quarter for a value of approximately $108,000. Inspire Investing LLC acquired a new stock position in Texas Capital Bancshares during the first quarter worth approximately $237,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Texas Capital Bancshares by 5.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,443 shares in the bank worth $369,000 after buying 345 more shares last quarter. LBJ Family Wealth Advisors Ltd. increased its position in shares of Texas Capital Bancshares by 1.5% during the first quarter. LBJ Family Wealth Advisors Ltd. now owns 21,516 shares of the bank worth $1,169,000 after buying 312 more shares in the last quarter. Finally, THRC Management LLC acquired a new stock position in Texas Capital Bancshares during the fourth quarter worth approximately $8,116,000. Institutional investors hold 97.77% of the company’s shares.
NASDAQ:TCBI shares opened at $54.32 on Wednesday. Texas Capital Bancshares, Inc. has a 52-week low of $48.79 and a 52-week high of $71.60. The company has a debt ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $2.76 billion, a PE ratio of 13.75, a PEG ratio of 2.02 and a beta of 1.54. The company has a 50-day moving average price of $53.23 and a two-hundred-day moving average price of $58.57.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last reported results on Wednesday, April 20. The bank reported EPS of $0.69 for the quarter, missing the consensus estimate of $0.73 per ($0.04). Texas Capital Bancshares had a net margin of 22.71% and a return on equity of 7.80%. The company posted revenue of $203.83 million in the quarter, versus a consensus estimate of $213.06 million. During the same period a year earlier, the company posted EPS of $1.33. The company’s revenue for the quarter was down 14.8% year over year. On average, sell-side analysts expect Texas Capital Bancshares, Inc. to post 3.37 earnings per share for the current year.
In related news, manager Robert W. Stallings acquired 2,000 shares in a trade dated Thursday, May 12. The stock was purchased at an average price of $50.25 per share, with a total value of $100,500.00. Following completion of the transaction, the administrator now directly owns 46,810 shares of the company, valued at $2,352,202.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, director Robert W. Stallings acquired 8,000 shares in a transaction dated Monday, April 25. The shares were purchased at an average cost of $52.65 per share, with a total value of $421,200.00. Following the transaction, the administrator now directly owns 44,810 shares of the company, valued at $2,359,246.50. Disclosure of this purchase can be found here. Insiders acquired 20,700 shares of the company valued at $1,087,345 over the past ninety days. Insiders own 0.56% of the shares of the company.
TCBI has been the subject of several analyst reports. Jefferies Financial Group raised its price target on shares of Texas Capital Bancshares from $51.00 to $52.00 in a report released Monday. StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Thursday, April 14 report. Raymond James upgraded shares of Texas Capital Bancshares from an ‘outperform’ rating to a ‘strong buy’ rating and set a $70.00 price target on the stock in a report on Thursday 7 July. TheStreet downgraded shares of Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 report. Finally, Truist Financial cut its price target on shares of Texas Capital Bancshares from $69.00 to $65.00 and set a “buy” rating on the stock in a Wednesday, June 15 report. One equity research analyst rated the stock with a sell rating, four gave the company a hold rating, three issued a buy rating and one assigned a strong buy rating. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $66.97.
About Texas Capital Bancshares (Get a rating)
Texas Capital Bancshares, Inc. operates as a bank holding company for Texas Capital Bank, is a full-service financial services company that provides customized solutions to businesses, entrepreneurs and individuals. The Company offers commercial banking, retail banking, investment banking and wealth management.
Want to see which other hedge funds own TCBI? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating).
Receive daily news and reviews for Texas Capital Bancshares – Enter your email address below to receive a concise daily summary of breaking news and analyst notes for Texas Capital Bancshares and related companies with MarketBeat.com’s free daily email newsletter.