UBS Asset Management Americas Inc. raised its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,789 shares of the bank’s stock after buying an additional 1,615 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.06% of Texas Capital Bancshares worth $2,826,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TCBI. BlackRock Inc. increased its stake in shares of Texas Capital Bancshares by 1.2% during the fourth quarter. BlackRock Inc. now owns 5,308,145 shares of the bank’s stock worth $471,894,000 after buying an additional 63,941 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Texas Capital Bancshares by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,204,593 shares of the bank’s stock worth $107,088,000 after buying an additional 55,390 shares during the period. Eagle Asset Management Inc. increased its stake in shares of Texas Capital Bancshares by 8.6% during the fourth quarter. Eagle Asset Management Inc. now owns 843,181 shares of the bank’s stock worth $75,159,000 after buying an additional 67,020 shares during the period. Rothschild Asset Management Inc. increased its stake in shares of Texas Capital Bancshares by 3.0% during the third quarter. Rothschild Asset Management Inc. now owns 488,917 shares of the bank’s stock worth $41,949,000 after buying an additional 14,224 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Texas Capital Bancshares by 118.9% in the fourth quarter. Victory Capital Management Inc. now owns 378,250 shares of the bank’s stock valued at $33,626,000 after purchasing an additional 205,490 shares in the last quarter.
TCBI has been the subject of a number of research analyst reports. Zacks Investment Research raised Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Tuesday, December 26th. Wedbush raised Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $108.00 to $87.00 in a report on Thursday, December 21st. Piper Jaffray reaffirmed a “hold” rating and issued a $98.50 price target on shares of Texas Capital Bancshares in a report on Tuesday, January 9th. Raymond James Financial raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a report on Thursday, January 25th. Finally, Barclays increased their price objective on Texas Capital Bancshares from $87.00 to $103.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $98.75.
In related news, Director Ian J. Turpin sold 1,186 shares of Texas Capital Bancshares stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $89.55, for a total transaction of $106,206.30. Following the completion of the sale, the director now owns 9,491 shares in the company, valued at approximately $849,919.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO C Keith Cargill acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average price of $90.60 per share, with a total value of $181,200.00. Following the transaction, the chief executive officer now owns 82,286 shares in the company, valued at approximately $7,455,111.60. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.
NASDAQ:TCBI traded down $2.95 during trading hours on Friday, hitting $90.70. The company’s stock had a trading volume of 446,333 shares, compared to its average volume of 542,333. The stock has a market capitalization of $4,650.77, a price-to-earnings ratio of 22.95, a PEG ratio of 1.28 and a beta of 1.78. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 1.28. Texas Capital Bancshares, Inc. has a 52-week low of $69.65 and a 52-week high of $102.90.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.03. The firm had revenue of $230.02 million during the quarter, compared to analysts’ expectations of $219.78 million. Texas Capital Bancshares had a return on equity of 10.85% and a net margin of 20.67%. During the same quarter in the prior year, the business posted $0.96 earnings per share. analysts predict that Texas Capital Bancshares, Inc. will post 6.11 EPS for the current year.
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Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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