Principal Financial Group Inc. Raises Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Principal Financial Group Inc. boosted its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,680 shares of the bank’s stock after purchasing an additional 549 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Texas Capital Bancshares worth $7,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Moody National Bank Trust Division boosted its position in Texas Capital Bancshares by 1.5% during the 1st quarter. Moody National Bank Trust Division now owns 17,626 shares of the bank’s stock valued at $1,317,000 after acquiring an additional 255 shares in the last quarter. Xponance Inc. boosted its position in Texas Capital Bancshares by 4.8% during the 4th quarter. Xponance Inc. now owns 6,569 shares of the bank’s stock valued at $514,000 after acquiring an additional 300 shares in the last quarter. Beacon Pointe Advisors LLC boosted its position in Texas Capital Bancshares by 1.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 18,825 shares of the bank’s stock valued at $1,472,000 after acquiring an additional 350 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Texas Capital Bancshares during the 4th quarter valued at $30,000. Finally, LPL Financial LLC boosted its position in Texas Capital Bancshares by 4.6% during the 4th quarter. LPL Financial LLC now owns 8,776 shares of the bank’s stock valued at $686,000 after acquiring an additional 382 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was bought at an average cost of $20.28 per share, with a total value of $212,940.00. Following the acquisition, the director directly owned 60,000 shares of the company’s stock, valued at approximately $1,216,800. This represents a 21.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders acquired 29,800 shares of company stock worth $1,059,205. Insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Trading Down 3.3%

Shares of Texas Capital Bancshares stock opened at $84.91 on Wednesday. The stock has a market cap of $3.90 billion, a P/E ratio of 48.80, a P/E/G ratio of 0.87 and a beta of 0.66. The stock’s 50 day simple moving average is $77.25 and its 200-day simple moving average is $75.45. Texas Capital Bancshares, Inc. has a 1-year low of $56.24 and a 1-year high of $94.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data 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 net margin of 5.04% and a return on equity of 9.39%. The business had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. Analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TCBI shares. Wall Street Zen raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday. DA Davidson lowered their price objective on Texas Capital Bancshares from $81.00 to $76.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Stephens lowered their price objective on Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Piper Sandler lowered their price objective on Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Finally, Barclays raised their price objective on Texas Capital Bancshares from $70.00 to $78.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 8th. Three 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $79.43.

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.