Envestnet Asset Management Inc. Increases Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Envestnet Asset Management Inc. raised its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 19.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,631 shares of the bank’s stock after acquiring an additional 1,704 shares during the period. Envestnet Asset Management Inc.’s holdings in Texas Capital Bancshares were worth $831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TCBI. Picton Mahoney Asset Management acquired a new position in shares of Texas Capital Bancshares during the 4th quarter worth $30,000. Assetmark Inc. acquired a new stake in shares of Texas Capital Bancshares in the 4th quarter worth approximately $32,000. Venturi Wealth Management LLC purchased a new position in Texas Capital Bancshares in the 4th quarter valued at approximately $37,000. R Squared Ltd purchased a new stake in Texas Capital Bancshares during the fourth quarter worth $41,000. Finally, KBC Group NV grew 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 valued at $170,000 after purchasing an additional 849 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Wall Street Analyst Weigh In

TCBI has been the subject of several research reports. Keefe, Bruyette & Woods cut their price target on Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Raymond James cut their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Barclays lowered their target price on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. Finally, DA Davidson cut their price target on Texas Capital Bancshares from $81.00 to $76.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.64.

Texas Capital Bancshares Trading Up 2.7 %

Shares of TCBI opened at $70.58 on Friday. Texas Capital Bancshares, Inc. has a 12 month low of $56.24 and a 12 month high of $91.80. The stock’s 50-day moving average is $70.63 and its two-hundred day moving average is $77.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $3.24 billion, a PE ratio of 55.14, a P/E/G ratio of 0.75 and a beta of 0.74.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.07). Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. The company had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. Equities analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 7,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $20.43 per share, with a total value of $143,010.00. Following the completion of the acquisition, the director now owns 49,500 shares of the company’s stock, valued at approximately $1,011,285. This trade represents a 16.47 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders bought 32,000 shares of company stock worth $1,121,905. 1.72% of the stock is currently owned by company 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.