Teacher Retirement System of Texas Acquires New Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Teacher Retirement System of Texas bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,756 shares of the bank’s stock, valued at approximately $505,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TCBI. Proficio Capital Partners LLC bought a new stake in shares of Texas Capital Bancshares in the 4th quarter worth approximately $1,688,000. Raymond James Financial Inc. bought a new position in shares of Texas Capital Bancshares during the 4th quarter valued at $784,000. PNC Financial Services Group Inc. raised its position in Texas Capital Bancshares by 87.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,559 shares of the bank’s stock worth $278,000 after purchasing an additional 1,657 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Texas Capital Bancshares by 18.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,381 shares of the bank’s stock worth $968,000 after purchasing an additional 1,908 shares during the period. Finally, Madison Investment Advisors LLC bought a new stake in Texas Capital Bancshares in the fourth quarter worth $4,388,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,500 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the acquisition, the director owned 60,000 shares in the company, valued at approximately $1,216,800. This represents a 21.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders acquired 29,800 shares of company stock valued at $1,059,205 over the last 90 days. 1.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TCBI shares. Wall Street Zen raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday. Barclays raised their price target 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. Jefferies Financial Group set a $80.00 price target on Texas Capital Bancshares and gave the stock a “hold” rating in a research note on Wednesday, May 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. Finally, Piper Sandler cut their target price on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Three investment 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $79.43.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $85.65 on Thursday. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 0.84 and a beta of 0.66. The stock has a fifty day moving average of $77.56 and a 200 day moving average of $75.52. Texas Capital Bancshares, Inc. has a 52 week low of $56.24 and a 52 week high of $94.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.21.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its 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). The company had revenue of $280.48 million during the quarter, compared to analysts’ expectations of $284.40 million. Texas Capital Bancshares had a return on equity of 9.39% and a net margin of 5.04%. As a group, research analysts expect 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.