Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Position Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 37.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,072 shares of the bank’s stock after buying an additional 56,243 shares during the quarter. New York State Common Retirement Fund’s holdings in Texas Capital Bancshares were worth $13,383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Strs Ohio increased its holdings in shares of Texas Capital Bancshares by 133.3% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the bank’s stock valued at $123,000 after acquiring an additional 1,200 shares during the last quarter. Keener Financial Planning LLC bought a new stake in Texas Capital Bancshares during the fourth quarter valued at $139,000. Anchor Investment Management LLC acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter worth $152,000. Allspring Global Investments Holdings LLC lifted its position in shares of Texas Capital Bancshares by 22.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,922 shares of the bank’s stock worth $172,000 after buying an additional 535 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Texas Capital Bancshares in the 4th quarter worth about $204,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Wedbush dropped their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. UBS Group boosted their price objective on Texas Capital Bancshares from $56.00 to $57.00 and gave the company a “sell” rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods dropped their target price on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Finally, Truist Financial cut their target price on Texas Capital Bancshares from $66.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.58.

Insiders Place Their Bets

In related news, Director Thomas E. Long acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the acquisition, the director now directly owns 7,542 shares of the company’s stock, valued at approximately $443,318.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Thomas E. Long bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average price of $58.78 per share, with a total value of $117,560.00. Following the completion of the acquisition, the director now directly owns 7,542 shares in the company, valued at $443,318.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Stallings purchased 6,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were purchased at an average cost of $18.64 per share, with a total value of $111,840.00. Following the completion of the purchase, the director now owns 146,706 shares in the company, valued at approximately $2,734,599.84. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 17,000 shares of company stock worth $403,170. 1.53% of the stock is owned by corporate insiders.

Texas Capital Bancshares Stock Performance

TCBI stock opened at $58.07 on Tuesday. The company has a 50-day simple moving average of $58.91 and a 200 day simple moving average of $59.05. The company has a market capitalization of $2.71 billion, a P/E ratio of 17.60, a PEG ratio of 2.07 and a beta of 1.19. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Texas Capital Bancshares, Inc. has a fifty-two week low of $42.79 and a fifty-two week high of $66.18.

About Texas Capital Bancshares

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.