JPMorgan Chase & Co. Buys 136,507 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

JPMorgan Chase & Co. raised its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 75.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,292 shares of the bank’s stock after purchasing an additional 136,507 shares during the period. JPMorgan Chase & Co. owned 0.69% of Texas Capital Bancshares worth $24,812,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new stake in shares of Texas Capital Bancshares in the 4th quarter valued at about $30,000. Assetmark Inc. purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter worth about $32,000. Venturi Wealth Management LLC purchased a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $37,000. R Squared Ltd purchased a new position in Texas Capital Bancshares during the 4th quarter valued at $41,000. Finally, KBC Group NV lifted its holdings in Texas Capital Bancshares by 64.2% in the fourth quarter. KBC Group NV now owns 2,172 shares of the bank’s stock worth $170,000 after buying an additional 849 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 2,006 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the acquisition, the director now owns 182,899 shares in the company, valued at $3,839,050.01. This represents a 1.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders acquired 29,402 shares of company stock valued at $653,787 over the last 90 days. Corporate insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TCBI has been the subject of a number of recent research reports. Hovde Group lowered their price target on shares of Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. dropped their price target on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a report on Friday, January 24th. StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $95.00 price target (down from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Finally, Barclays cut their price objective on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating for the company in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and an average price target of $80.36.

Texas Capital Bancshares Stock Up 6.7 %

Shares of NASDAQ:TCBI opened at $66.24 on Thursday. The company has a 50-day moving average price of $75.74 and a 200 day moving average price of $78.38. Texas Capital Bancshares, Inc. has a 12 month low of $54.68 and a 12 month high of $91.80. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 51.75, a PEG ratio of 0.75 and a beta of 0.74. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. As a group, equities research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

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.