State Street Corp boosted its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 14.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,497,607 shares of the bank’s stock after buying an additional 449,797 shares during the quarter. State Street Corp owned approximately 7.05% of Texas Capital Bancshares worth $270,711,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Exane Derivatives acquired a new position in Texas Capital Bancshares during the second quarter worth approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Texas Capital Bancshares by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the bank’s stock worth $156,000 after buying an additional 248 shares during the last quarter. Hilton Capital Management LLC acquired a new position in Texas Capital Bancshares during the second quarter worth approximately $201,000. D.A. Davidson & CO. increased its position in Texas Capital Bancshares by 14.3% during the second quarter. D.A. Davidson & CO. now owns 2,632 shares of the bank’s stock worth $203,000 after buying an additional 329 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in Texas Capital Bancshares during the second quarter worth approximately $235,000.
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Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) opened at 84.00 on Monday. The firm has a market capitalization of $4.17 billion, a P/E ratio of 23.31 and a beta of 1.68. The company has a 50-day moving average price of $80.14 and a 200-day moving average price of $78.01. Texas Capital Bancshares, Inc. has a 12-month low of $54.70 and a 12-month high of $93.35.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $201.73 million during the quarter, compared to the consensus estimate of $197.10 million. Texas Capital Bancshares had a net margin of 21.84% and a return on equity of 10.01%. During the same period in the prior year, the firm posted $0.78 earnings per share. Equities analysts predict that Texas Capital Bancshares, Inc. will post $4.00 EPS for the current year.
In other news, insider C Keith Cargill acquired 3,000 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $74.15 per share, with a total value of $222,450.00. Following the completion of the purchase, the insider now owns 80,286 shares in the company, valued at approximately $5,953,206.90. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.47% of the company’s stock.
A number of brokerages have weighed in on TCBI. Zacks Investment Research raised Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Tuesday, July 11th. Royal Bank Of Canada started coverage on Texas Capital Bancshares in a research report on Wednesday, September 6th. They issued an “outperform” rating and a $90.00 target price on the stock. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $90.00 target price on shares of Texas Capital Bancshares in a research report on Wednesday, October 4th. Wedbush downgraded Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $88.00 to $87.00 in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $80.00 target price (up previously from $75.00) on shares of Texas Capital Bancshares in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Texas Capital Bancshares has a consensus rating of “Hold” and a consensus price target of $87.33.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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