Hsbc Holdings PLC Purchases New Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Hsbc Holdings PLC purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBIFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,935 shares of the bank’s stock, valued at approximately $1,551,000.

Several other hedge funds have also recently bought and sold shares of TCBI. Victory Capital Management Inc. raised its holdings in Texas Capital Bancshares by 147.9% in the third quarter. Victory Capital Management Inc. now owns 31,566 shares of the bank’s stock valued at $1,859,000 after buying an additional 18,835 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Texas Capital Bancshares by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 663,768 shares of the bank’s stock worth $39,096,000 after purchasing an additional 3,641 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Texas Capital Bancshares by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 526,482 shares of the bank’s stock worth $31,010,000 after purchasing an additional 15,336 shares in the last quarter. Pathstone Family Office LLC acquired a new position in shares of Texas Capital Bancshares during the third quarter worth $214,000. Finally, HighTower Advisors LLC lifted its position in shares of Texas Capital Bancshares by 22.2% during the third quarter. HighTower Advisors LLC now owns 11,101 shares of the bank’s stock worth $652,000 after purchasing an additional 2,020 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TCBI. Royal Bank of Canada reduced their target price on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 9th. Raymond James cut shares of Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. reduced their target price on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Hovde Group reduced their target price on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a research report on Friday, April 19th. Finally, Mizuho reissued a “hold” rating and set a $66.00 target price (down from $72.00) on shares of Texas Capital Bancshares in a research report on Monday, April 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $63.58.

Read Our Latest Stock Report on Texas Capital Bancshares

Texas Capital Bancshares Stock Up 0.5 %

TCBI stock opened at $58.71 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares, Inc. has a 1-year low of $48.41 and a 1-year high of $66.18. The firm has a fifty day moving average price of $59.22 and a two-hundred day moving average price of $59.86. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.44 and a beta of 1.15.

Texas Capital Bancshares (NASDAQ:TCBIGet Free Report) last released its earnings results on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. The firm had revenue of $256.33 million during the quarter, compared to analyst estimates of $253.27 million. Research analysts predict that Texas Capital Bancshares, Inc. will post 3.53 EPS for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 3,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average price of $19.36 per share, for a total transaction of $58,080.00. Following the completion of the purchase, the director now directly owns 169,706 shares in the company, valued at $3,285,508.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert W. Stallings purchased 6,000 shares of the stock in a transaction dated Monday, May 20th. The stock was acquired at an average price of $19.52 per share, for a total transaction of $117,120.00. Following the completion of the transaction, the director now owns 163,706 shares of the company’s stock, valued at $3,195,541.12. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert W. Stallings purchased 3,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were purchased at an average price of $19.36 per share, with a total value of $58,080.00. Following the transaction, the director now directly owns 169,706 shares of the company’s stock, valued at approximately $3,285,508.16. The disclosure for this purchase can be found here. Insiders acquired a total of 15,004 shares of company stock worth $292,878 over the last 90 days. Insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Texas Capital Bancshares (NASDAQ:TCBI)

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