Assenagon Asset Management S.A. bought a new position in shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 35,857 shares of the bank’s stock, valued at approximately $2,964,000. Assenagon Asset Management S.A. owned 0.07% of Texas Capital Bancshares at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC raised its position in Texas Capital Bancshares by 94.1% in the 1st quarter. Millennium Management LLC now owns 16,411 shares of the bank’s stock valued at $1,475,000 after purchasing an additional 7,955 shares during the last quarter. Legal & General Group Plc raised its position in Texas Capital Bancshares by 4.5% in the 1st quarter. Legal & General Group Plc now owns 60,168 shares of the bank’s stock valued at $5,409,000 after purchasing an additional 2,566 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Texas Capital Bancshares in the 1st quarter valued at $250,000. Principal Financial Group Inc. raised its position in Texas Capital Bancshares by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 215,393 shares of the bank’s stock valued at $19,363,000 after purchasing an additional 5,306 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in Texas Capital Bancshares by 35.6% in the 1st quarter. Allianz Asset Management GmbH now owns 21,121 shares of the bank’s stock valued at $1,899,000 after purchasing an additional 5,542 shares during the last quarter.
Shares of TCBI opened at $65.49 on Tuesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.21 and a current ratio of 1.29. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.05 and a beta of 1.86. Texas Capital Bancshares Inc has a 1 year low of $61.48 and a 1 year high of $103.05.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, October 17th. The bank reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.07). The firm had revenue of $257.69 million during the quarter, compared to analyst estimates of $257.14 million. Texas Capital Bancshares had a net margin of 23.10% and a return on equity of 13.36%. During the same period in the prior year, the firm posted $1.12 earnings per share. As a group, equities research analysts expect that Texas Capital Bancshares Inc will post 6.02 EPS for the current year.
Several analysts recently commented on TCBI shares. SunTrust Banks upped their price target on shares of Texas Capital Bancshares to $90.00 and gave the company a “buy” rating in a research report on Thursday, October 18th. Raymond James reduced their price target on shares of Texas Capital Bancshares from $105.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, October 18th. Compass Point upgraded shares of Texas Capital Bancshares from a “neutral” rating to a “buy” rating and reduced their price target for the company from $103.00 to $84.00 in a research report on Tuesday, October 23rd. Wedbush set a $94.00 price target on shares of Texas Capital Bancshares and gave the company a “buy” rating in a research report on Thursday, October 18th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $105.00 price target on shares of Texas Capital Bancshares in a research report on Friday, July 20th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $96.82.
In other news, CEO C Keith Cargill acquired 3,000 shares of the company’s stock in a transaction on Friday, October 19th. The shares were bought at an average cost of $67.59 per share, with a total value of $202,770.00. Following the purchase, the chief executive officer now owns 90,880 shares of the company’s stock, valued at approximately $6,142,579.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ian J. Turpin sold 5,320 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $93.06, for a total transaction of $495,079.20. Following the completion of the transaction, the director now directly owns 8,602 shares in the company, valued at $800,502.12. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
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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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