Engineers Gate Manager LP lifted its stake in shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) by 74.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,689 shares of the bank’s stock after acquiring an additional 7,098 shares during the quarter. Engineers Gate Manager LP’s holdings in Texas Capital Bancshares were worth $1,500,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of TCBI. Carillon Tower Advisers Inc. acquired a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $42,292,000. Victory Capital Management Inc. increased its stake in shares of Texas Capital Bancshares by 118.9% during the fourth quarter. Victory Capital Management Inc. now owns 378,250 shares of the bank’s stock valued at $33,626,000 after acquiring an additional 205,490 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $12,954,000. Deutsche Bank AG increased its stake in shares of Texas Capital Bancshares by 137.4% during the fourth quarter. Deutsche Bank AG now owns 154,952 shares of the bank’s stock valued at $13,772,000 after acquiring an additional 89,691 shares during the period. Finally, Eaton Vance Management increased its stake in shares of Texas Capital Bancshares by 159.6% during the first quarter. Eaton Vance Management now owns 136,956 shares of the bank’s stock valued at $12,312,000 after acquiring an additional 84,190 shares during the period.
Texas Capital Bancshares stock opened at $99.10 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.20 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.36 and a beta of 1.76. Texas Capital Bancshares Inc has a 1 year low of $69.65 and a 1 year high of $103.05.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, April 18th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.03. The firm had revenue of $230.25 million for the quarter, compared to analyst estimates of $225.43 million. Texas Capital Bancshares had a net margin of 22.07% and a return on equity of 12.00%. During the same quarter in the previous year, the business posted $0.80 earnings per share. sell-side analysts predict that Texas Capital Bancshares Inc will post 6.16 earnings per share for the current year.
A number of research analysts recently commented on TCBI shares. SunTrust Banks lowered their price objective on shares of Texas Capital Bancshares to $100.00 in a research note on Thursday, April 19th. Bank of America raised their price objective on shares of Texas Capital Bancshares from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Jefferies Group reiterated a “buy” rating on shares of Texas Capital Bancshares in a research note on Thursday, January 25th. ValuEngine upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, May 12th. Finally, BidaskClub upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Texas Capital Bancshares presently has a consensus rating of “Hold” and an average target price of $101.04.
In other Texas Capital Bancshares news, Director Ian J. Turpin sold 1,186 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $89.55, for a total value of $106,206.30. Following the transaction, the director now owns 9,491 shares in the company, valued at $849,919.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.48% of the company’s stock.
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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