Raymond James Financial Inc. Takes Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Raymond James Financial Inc. purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,021 shares of the bank’s stock, valued at approximately $784,000.

A number of other large investors have also bought and sold shares of TCBI. Vanguard Group Inc. grew its holdings in shares of Texas Capital Bancshares by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank’s stock worth $367,327,000 after purchasing an additional 20,245 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Texas Capital Bancshares by 22.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank’s stock worth $58,246,000 after acquiring an additional 138,734 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Texas Capital Bancshares by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 627,890 shares of the bank’s stock valued at $49,101,000 after acquiring an additional 15,320 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Texas Capital Bancshares by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 572,539 shares of the bank’s stock valued at $44,773,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at about $42,050,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 7,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $20.43 per share, with a total value of $143,010.00. Following the acquisition, the director now directly owns 49,500 shares of the company’s stock, valued at approximately $1,011,285. The trade was a 16.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have acquired 26,000 shares of company stock worth $994,055. Insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Trading Down 0.9 %

Shares of NASDAQ:TCBI opened at $69.90 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.21 billion, a PE ratio of 54.61, a P/E/G ratio of 0.75 and a beta of 0.62. Texas Capital Bancshares, Inc. has a 12-month low of $56.24 and a 12-month high of $91.80. The business’s fifty day simple moving average is $70.31 and its 200-day simple moving average is $77.47.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. As a group, equities research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TCBI. Barclays reduced their price target 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. Keefe, Bruyette & Woods reduced their target price on Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Raymond James decreased their target price on Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, April 21st. DA Davidson cut their price target on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an “underweight” rating for the company in a report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $76.64.

Texas Capital Bancshares Company 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.