Tower Research Capital LLC TRC Acquires 643 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Tower Research Capital LLC TRC increased its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 38.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,315 shares of the bank’s stock after purchasing an additional 643 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Texas Capital Bancshares were worth $113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TCBI. Price T Rowe Associates Inc. MD grew its stake in shares of Texas Capital Bancshares by 68.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,278,954 shares of the bank’s stock worth $119,964,000 after purchasing an additional 927,419 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Texas Capital Bancshares by 26.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,633,859 shares of the bank’s stock worth $219,159,000 after purchasing an additional 762,038 shares during the last quarter. Norges Bank bought a new stake in shares of Texas Capital Bancshares in the fourth quarter worth about $29,735,000. Goldman Sachs Group Inc. grew its stake in shares of Texas Capital Bancshares by 188.2% in the first quarter. Goldman Sachs Group Inc. now owns 422,060 shares of the bank’s stock worth $24,188,000 after purchasing an additional 275,631 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Texas Capital Bancshares by 5.1% in the first quarter. State Street Corp now owns 3,268,391 shares of the bank’s stock worth $187,311,000 after purchasing an additional 158,815 shares during the last quarter. 96.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Robert W. Stallings bought 2,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was acquired at an average price of $59.06 per share, with a total value of $118,120.00. Following the transaction, the director now owns 268,000 shares in the company, valued at approximately $15,828,080. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert W. Stallings bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average price of $61.53 per share, with a total value of $307,650.00. Following the transaction, the director now owns 264,000 shares in the company, valued at approximately $16,243,920. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Stallings acquired 2,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $59.06 per share, with a total value of $118,120.00. Following the transaction, the director now owns 268,000 shares in the company, valued at $15,828,080. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 15,000 shares of company stock valued at $699,350. Company insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI opened at $63.60 on Friday. Texas Capital Bancshares, Inc. has a twelve month low of $42.79 and a twelve month high of $69.26. The firm has a market cap of $3.05 billion, a P/E ratio of 9.09, a PEG ratio of 1.84 and a beta of 1.32. The company has a 50 day moving average of $59.38 and a 200 day moving average of $55.41. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.31.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.38. Texas Capital Bancshares had a net margin of 19.60% and a return on equity of 7.23%. The company had revenue of $447.93 million during the quarter, compared to analyst estimates of $269.61 million. During the same period in the previous year, the business earned $0.59 EPS. As a group, research analysts expect that Texas Capital Bancshares, Inc. will post 4.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Texas Capital Bancshares from $52.00 to $56.00 in a research report on Thursday, June 29th. StockNews.com assumed coverage on Texas Capital Bancshares in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Raymond James lifted their price objective on Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “strong-buy” rating in a research report on Friday, July 21st. Truist Financial cut their price objective on Texas Capital Bancshares from $64.00 to $58.00 in a research report on Thursday, June 29th. Finally, Wedbush lifted their target price on shares of Texas Capital Bancshares from $55.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Four analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average price target of $61.22.

Texas Capital Bancshares Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking, consumer banking, investment banking, and wealth management services.