Profund Advisors LLC grew its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 21.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,389 shares of the bank’s stock after acquiring an additional 1,634 shares during the quarter. Profund Advisors LLC’s holdings in Texas Capital Bancshares were worth $835,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Texas Capital Bancshares by 1.2% in the fourth quarter. BlackRock Inc. now owns 5,308,145 shares of the bank’s stock valued at $471,894,000 after buying an additional 63,941 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Texas Capital Bancshares by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,204,593 shares of the bank’s stock valued at $107,088,000 after buying an additional 55,390 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Texas Capital Bancshares by 8.6% in the fourth quarter. Eagle Asset Management Inc. now owns 843,181 shares of the bank’s stock valued at $75,159,000 after buying an additional 67,020 shares during the last quarter. Channing Capital Management LLC boosted its position in Texas Capital Bancshares by 3.7% in the fourth quarter. Channing Capital Management LLC now owns 767,180 shares of the bank’s stock valued at $68,202,000 after buying an additional 27,224 shares during the last quarter. Finally, Rothschild Asset Management Inc. boosted its position in Texas Capital Bancshares by 3.0% in the third quarter. Rothschild Asset Management Inc. now owns 488,917 shares of the bank’s stock valued at $41,949,000 after buying an additional 14,224 shares during the last quarter.
In other news, Director Ian J. Turpin sold 1,186 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $89.55, for a total transaction of $106,206.30. Following the transaction, the director now owns 9,491 shares in the company, valued at approximately $849,919.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO C Keith Cargill bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were acquired at an average price of $90.60 per share, for a total transaction of $181,200.00. Following the transaction, the chief executive officer now directly owns 82,286 shares in the company, valued at $7,455,111.60. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.
Texas Capital Bancshares stock traded down $2.95 during mid-day trading on Friday, hitting $90.70. The company had a trading volume of 449,327 shares, compared to its average volume of 542,333. Texas Capital Bancshares, Inc. has a 12-month low of $69.65 and a 12-month high of $102.90. The firm has a market cap of $4,504.25, a PE ratio of 22.23, a P/E/G ratio of 1.24 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, January 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.03. Texas Capital Bancshares had a return on equity of 10.85% and a net margin of 20.67%. The firm had revenue of $230.02 million for the quarter, compared to analyst estimates of $219.78 million. During the same quarter last year, the firm posted $0.96 EPS. equities research analysts forecast that Texas Capital Bancshares, Inc. will post 6.11 EPS for the current year.
A number of equities research analysts recently commented on TCBI shares. BidaskClub lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Wedbush upgraded Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $108.00 to $87.00 in a research report on Thursday, December 21st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $100.00 target price on shares of Texas Capital Bancshares in a research report on Friday, December 22nd. Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research report on Tuesday, December 26th. Finally, Barclays upped their price objective on Texas Capital Bancshares from $87.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. One 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. Texas Capital Bancshares presently has an average rating of “Hold” and a consensus target price of $98.75.
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About Texas Capital Bancshares
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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