Texas capital

Truist Financial Corp buys shares of 5,188 Texas Capital Bancshares, Inc. (NASDAQ: TCBI)


Truist Financial Corp bought a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) during the first quarter, according to the company in its most recent Form 13F filed with the Securities & Exchange Commission. The fund bought 5,188 shares of the bank, valued at around $297,000.

A number of other institutional investors and hedge funds have also recently increased or reduced their stakes in TCBI. Strs Ohio acquired a new stock position in Texas Capital Bancshares in the fourth quarter worth $867,000. The New York State Teachers’ Retirement System increased its stake in shares of Texas Capital Bancshares by 1.2% in the fourth quarter. The New York State Teachers’ Retirement System now owns 73,754 shares of the bank worth $4,444,000 after acquiring 898 additional shares last quarter. State of Michigan Retirement System increased its stake in shares of Texas Capital Bancshares by 1.6% in the fourth quarter. State of Michigan Retirement System now owns 12,861 shares of the bank worth $775,000 after acquiring 200 additional shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stock position in Texas Capital Bancshares in the fourth quarter worth $1,003,000. Finally, New Jersey State Joint Pension Fund D increased its stake in Texas Capital Bancshares by 16.2% in the fourth quarter. New Jersey State Joint Pension Fund D now owns 48,308 shares of the bank worth $2,911,000 after acquiring 6,748 more shares last quarter. Hedge funds and other institutional investors own 97.77% of the company’s shares.

A Wall Street analyst gives his opinion

Several equity analysts have commented on TCBI shares. Truist Financial lowered its price target on shares of Texas Capital Bancshares from $69.00 to $65.00 and set a “buy” rating for the company in a Wednesday, June 15 research note. Wedbush raised its target price on shares of Texas Capital Bancshares to $60.00 in a Monday, July 25 research note. Jefferies Financial Group raised its target price on shares of Texas Capital Bancshares from $51.00 to $52.00 in a Monday, July 11 research note. TheStreet downgraded shares of Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 research note. Finally, StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research rating on Saturday. One research analyst rated the stock with a sell rating, four issued a hold rating, one gave a buy rating and one issued a strong buy rating for the stock. According to data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and an average target price of $63.67.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 2,000 shares of Texas Capital Bancshares in a trade dated Thursday, May 12. The shares were acquired at an average cost of $50.25 per share, with a total value of $100,500.00. Following the completion of the acquisition, the director now owns 46,810 shares of the company, valued at $2,352,202.50. The purchase was disclosed in a legal filing with the SEC, accessible via this link. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 2,000 shares of Texas Capital Bancshares in a trade dated Thursday, May 12. The shares were acquired at an average cost of $50.25 per share, with a total value of $100,500.00. Following the completion of the acquisition, the director now owns 46,810 shares of the company, valued at $2,352,202.50. The purchase was disclosed in a legal filing with the SEC, accessible via this link. Additionally, director Larry L. Helm purchased 5,700 shares of Texas Capital Bancshares in a trade dated Monday, May 2. The shares were acquired at an average cost of $52.25 per share, with a total value of $297,825.00. Following the completion of the acquisition, the director now directly owns 77,858 shares of the company, valued at approximately $4,068,080.50. Disclosure of this purchase can be found here. Insiders have purchased 56,130 shares of the company worth $3,054,497 over the past 90 days. Company insiders own 0.56% of the company’s shares.

Performance of Texas Capital Bancshares shares

The NASDAQ TCBI opened at $58.62 on Friday. The company has a debt ratio of 0.34, 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. The company has a market capitalization of $2.92 billion, a PE ratio of 18.15, a P/E/G ratio of 2.07 and a beta of 1.54. The company has a fifty-day moving average of $53.92 and a two-hundred-day moving average of $58.07.

Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last released quarterly earnings data on Thursday, July 21. The bank reported earnings per share (EPS) of $0.59 for the quarter, missing the consensus estimate of $0.74 per ($0.15). Texas Capital Bancshares had a net margin of 18.42% and a return on equity of 6.48%. In the same quarter last year, the company posted earnings per share of $1.31. As a group, analysts expect Texas Capital Bancshares, Inc. to post earnings per share of 3.48 for the current year.

About Texas Capital Bancshares

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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.

See also

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).

Institutional ownership by quarter for Texas Capital Bancshares (NASDAQ:TCBI)



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