Intech Investment Management LLC Raises Stake in Texas Capital Bancshares, Inc. $TCBI

Intech Investment Management LLC increased its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 22.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 29,790 shares of the bank’s stock after buying an additional 5,393 shares during the quarter. Intech Investment Management LLC owned 0.06% of Texas Capital Bancshares worth $2,225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Texas Capital Bancshares in the 1st quarter worth about $528,000. Texas Capital Bank Wealth Management Services Inc boosted its holdings in shares of Texas Capital Bancshares by 2,249.3% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank’s stock worth $18,630,000 after buying an additional 238,785 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Texas Capital Bancshares in the 4th quarter valued at about $479,000. Bank of America Corp DE raised its stake in Texas Capital Bancshares by 25.0% in the 4th quarter. Bank of America Corp DE now owns 198,906 shares of the bank’s stock valued at $15,554,000 after acquiring an additional 39,832 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Texas Capital Bancshares in the 1st quarter valued at about $16,938,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TCBI. Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the company a “hold” rating in a research note on Wednesday, May 21st. Citigroup boosted their price objective on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a research note on Friday, July 18th. Barclays boosted their price objective on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an “underweight” rating in a research note on Friday, July 18th. Hovde Group upped their price target on Texas Capital Bancshares from $75.00 to $95.00 and gave the company a “market perform” rating in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods upped their price target on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $84.00.

Texas Capital Bancshares Stock Down 2.0%

TCBI stock opened at $85.26 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $85.47 and its 200 day moving average is $77.29. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.35. The business had revenue of $307.46 million during the quarter, compared to analyst estimates of $298.90 million. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.During the same quarter in the prior year, the firm earned $0.80 earnings per share. Sell-side analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal 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.