The Oregon Public Employees Retirement Fund reduced its stake in Texas Capital Bancshares, Inc. (NASDAQ: TCBI – Get Rating) by 1.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor held 16,219 shares of the bank after selling 212 shares during the quarter. The Oregon Public Employees Retirement Fund’s holdings in Texas Capital Bancshares were worth $930,000 when it was last filed with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently bought and sold shares of TCBI. Profund Advisors LLC raised its position in shares of Texas Capital Bancshares by 5.2% in the fourth quarter. Profund Advisors LLC now owns 3,934 shares of the bank worth $237,000 after buying 196 additional shares in the last quarter. Inspire Investing LLC bought a new position in Texas Capital Bancshares during the first quarter worth approximately $237,000. Verdence Capital Advisors LLC bought a new position in Texas Capital Bancshares during the fourth quarter, valued at approximately $238,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Texas Capital Bancshares by 15.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,098 shares of the bank valued at $367,000 after acquiring 821 additional shares last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Texas Capital Bancshares by 5.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,443 shares of the bank valued at $369,000 after buying 345 additional shares in the last quarter. 97.77% of the shares are held by institutional investors and hedge funds.
A number of research companies have weighed in on TCBI. Raymond James upgraded shares of Texas Capital Bancshares from an “outperform” rating to a “strong buy” rating and set a price target of $70.00 on the stock in a research note from the Thursday, July 7. Jefferies Financial Group raised its price target on Texas Capital Bancshares from $51.00 to $52.00 in a research report on Monday. Truist Financial cut its target price on Texas Capital Bancshares from $69.00 to $65.00 and set a “buy” rating on the stock in a Wednesday, June 15 research note. TheStreet upgraded Texas Capital Bancshares from a “b-” to a “c+” rating in a Thursday, April 21 research note. Finally, StockNews.com upgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Thursday, April 14 research note. One research analyst assigned the stock a sell rating, four assigned a hold rating, three assigned a buy rating and one assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $66.97.
In other Texas Capital Bancshares news, Director Larry L. Helm purchased 5,700 shares of Texas Capital Bancshares in a trade on Monday, May 2. The shares were acquired at an average price of $52.25 per share, with a total value of $297,825.00. Following the acquisition, the administrator now owns 77,858 shares of the company, valued at $4,068,080.50. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Additionally, director Robert W. Stallings purchased 8,000 shares in a trade that took place on Monday, April 25. The shares were purchased at an average price of $52.65 per share, for a total transaction of $421,200.00. Following completion of the transaction, the administrator now directly owns 44,810 shares of the company, valued at approximately $2,359,246.50. Disclosure of this purchase can be found here. Last quarter, insiders acquired 20,700 shares of the company valued at $1,087,345. Insiders of the company own 0.56% of the shares of the company.
Shares of TCBI opened at $53.63 on Thursday. The company has a market capitalization of $2.72 billion, a PE ratio of 13.58, a PEG ratio of 2.02 and a beta of 1.54. The stock’s fifty-day moving average price is $53.18 and its two-hundred-day moving average price is $58.54. The company has a debt ratio of 0.33, a current ratio of 1.02 and a quick ratio of 1.02. Texas Capital Bancshares, Inc. has a 1-year low of $48.79 and a 1-year high of $71.60.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last reported quarterly earnings data 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 for the quarter, versus a consensus estimate of $213.06 million. In the same quarter last year, the company posted earnings per share of $1.33. Texas Capital Bancshares’ revenue for the quarter was down 14.8% from the same quarter last year. Sell-side analysts expect Texas Capital Bancshares, Inc. to post earnings per share of 3.37 for the current fiscal year.
Texas Capital Bancshares Company Profile (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.
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