13,500 Shares in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,500 shares of the bank’s stock, valued at approximately $873,000.

Other hedge funds also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. purchased a new stake in shares of Texas Capital Bancshares during the third quarter valued at about $47,000. Strs Ohio lifted its position in shares of Texas Capital Bancshares by 133.3% during the third quarter. Strs Ohio now owns 2,100 shares of the bank’s stock valued at $123,000 after buying an additional 1,200 shares during the last quarter. Keener Financial Planning LLC purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $139,000. Anchor Investment Management LLC purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $152,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Texas Capital Bancshares by 22.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,922 shares of the bank’s stock valued at $172,000 after buying an additional 535 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Stock Performance

TCBI opened at $58.61 on Friday. Texas Capital Bancshares, Inc. has a 12-month low of $42.79 and a 12-month high of $66.18. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.73 billion, a PE ratio of 17.76, a P/E/G ratio of 2.11 and a beta of 1.19. The firm has a 50 day moving average of $58.97 and a two-hundred day moving average of $59.05.

Wall Street Analysts Forecast Growth

TCBI has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Hovde Group decreased their price objective on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a research report on Friday, April 19th. Mizuho reaffirmed a “hold” rating and issued a $66.00 price objective (down from $72.00) on shares of Texas Capital Bancshares in a research report on Monday, April 1st. Citigroup decreased their price objective on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Finally, Raymond James lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, April 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Texas Capital Bancshares currently has an average rating of “Hold” and an average price target of $63.58.

Insider Activity

In other news, Director Thomas E. Long bought 2,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, with a total value of $117,560.00. Following the acquisition, the director now directly owns 7,542 shares in the company, valued at $443,318.76. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Robert W. Stallings bought 4,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was purchased at an average cost of $19.93 per share, with a total value of $79,720.00. Following the acquisition, the director now directly owns 131,706 shares in the company, valued at $2,624,900.58. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas E. Long bought 2,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $58.78 per share, with a total value of $117,560.00. Following the completion of the acquisition, the director now owns 7,542 shares in the company, valued at $443,318.76. The disclosure for this purchase can be found here. Insiders bought a total of 18,000 shares of company stock valued at $422,650 in the last three months. 0.99% of the stock is currently owned by corporate insiders.

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 solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.