Texas capital

Zurcher Kantonalbank Zurich Cantonalbank Increases Equity Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)


Zurcher Kantonalbank Zurich Cantonalbank increased its holdings of shares in Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) by 5.7% during the first quarter, reports HoldingsChannel.com. The company held 6,443 shares of the bank after purchasing an additional 345 shares during the period. Zurcher Kantonalbank Zurcher Kantonalbank’s holdings in Texas Capital Bancshares were worth $369,000 at the end of the last reporting period.

Other hedge funds have also recently been buying and selling shares of the company. Retirement Systems of Alabama raised its position in shares of Texas Capital Bancshares by 1.2% in the fourth quarter. Retirement Systems of Alabama now owns 66,269 shares of the bank valued at $3,993,000 after acquiring 756 additional shares last quarter. Strs Ohio bought a new stock position in Texas Capital Bancshares in the fourth quarter, valued at around $867,000. The New York State Teachers’ Retirement System increased its position 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 valued at $4,444,000 after acquiring 898 additional shares last quarter. Hennessy Advisors Inc. raised its position in shares of Texas Capital Bancshares by 18.8% in the fourth quarter. Hennessy Advisors Inc. now owns 120,000 shares of the bank valued at $7,230,000 after acquiring an additional 19,000 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new stock position in Texas Capital Bancshares in the fourth quarter worth approximately $238,000. Hedge funds and other institutional investors own 97.77% of the company’s shares.

A Wall Street analyst gives his opinion

Several stock analysts have weighed in on the company recently. Raymond James upgraded Texas Capital Bancshares from an “outperform” rating to a “strong buy” rating and set a target price of $70.00 on the stock in a Thursday, July 7 research report. StockNews.com upgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Thursday, April 14 report. TheStreet upgraded Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 report. Truist Financial cut its price target on Texas Capital Bancshares from $69.00 to $65.00 and set a “buy” rating for the company in a Wednesday, June 15 report. Finally, Jefferies Financial Group raised its price target on Texas Capital Bancshares from $51.00 to $52.00 in a Monday, July 11 report. One equity research analyst gave the stock a sell rating, four gave the company a hold rating, three issued a buy rating and one gave the company a high buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $66.97.

Insider activity

In other news, Director Robert W. Stallings acquired 2,000 shares of the company in a transaction 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 purchase, the director now owns 46,810 shares of the company, valued at approximately $2,352,202.50. The acquisition was disclosed in a legal filing with the SEC, accessible via the SEC’s website. In other news, Director Robert W. Stallings acquired 2,000 shares of the company in a transaction 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 purchase, the director now owns 46,810 shares of the company, valued at approximately $2,352,202.50. The acquisition was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, director Robert W. Stallings acquired 8,000 shares of the company 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 completion of the purchase, the director now directly owns 44,810 shares of the company, valued at approximately $2,359,246.50. Disclosure of this purchase can be found here. Over the past ninety days, insiders have purchased 20,700 shares of the company valued at $1,087,345. 0.56% of the shares are currently held by company insiders.

Texas Capital Banc Share Price Performance

TCBI stock opened at $55.31 on Friday. The company has a fifty-day moving average of $53.18 and a two-hundred-day moving average of $58.47. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt ratio of 0.33. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 14.00, a growth price-to-earnings ratio of 2.01 and a beta of 1.54. Texas Capital Bancshares, Inc. has a 52-week low of $48.79 and a 52-week high of $71.60.

Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last reported results on Wednesday, April 20. The bank reported earnings per share (EPS) of $0.69 for the quarter, missing the consensus estimate of $0.73 per ($0.04). Texas Capital Bancshares had a return on equity of 7.80% and a net margin of 22.71%. The company posted revenue of $203.83 million for the quarter, versus analyst estimates of $213.06 million. During the same period last year, the company achieved EPS of $1.33. Revenues from Texas Capital Bancshares were down 14.8% from the same quarter last year. As a group, research analysts expect Texas Capital Bancshares, Inc. to post 3.37 earnings per share for the current year.

Profile of 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.

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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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