Pallas Capital Advisors LLC Raises Stock Holdings in Texas Capital Bancshares, Inc. $TCBI

Pallas Capital Advisors LLC raised its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,255 shares of the bank’s stock after acquiring an additional 432 shares during the period. Pallas Capital Advisors LLC’s holdings in Texas Capital Bancshares were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of TCBI. T. Rowe Price Investment Management Inc. increased its stake in Texas Capital Bancshares by 0.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank’s stock worth $248,936,000 after purchasing an additional 26,786 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Texas Capital Bancshares by 84.8% during the first quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank’s stock worth $105,395,000 after purchasing an additional 657,630 shares during the period. Massachusetts Financial Services Co. MA raised its position in Texas Capital Bancshares by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 813,028 shares of the bank’s stock valued at $60,733,000 after acquiring an additional 68,195 shares in the last quarter. Wellington Management Group LLP raised its position in Texas Capital Bancshares by 2.5% during the first quarter. Wellington Management Group LLP now owns 591,488 shares of the bank’s stock valued at $44,184,000 after acquiring an additional 14,169 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Texas Capital Bancshares by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock valued at $41,837,000 after buying an additional 20,231 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on TCBI shares. Wall Street Zen upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. Citigroup boosted their price objective on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a report on Friday, July 18th. JPMorgan Chase & Co. upped their price target on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an “underweight” rating in a report on Tuesday, July 1st. Hovde Group increased their price objective on Texas Capital Bancshares from $75.00 to $95.00 and gave the company a “market perform” rating in a report on Friday, July 18th. Finally, Barclays increased their price objective on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an “underweight” rating in a report on Friday, July 18th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.00.

Texas Capital Bancshares Price Performance

TCBI stock opened at $86.98 on Monday. Texas Capital Bancshares, Inc. has a 52-week low of $59.37 and a 52-week high of $94.61. The stock’s fifty day simple moving average is $85.42 and its 200-day simple moving average is $77.59. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data 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. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.The business had revenue of $307.46 million for the quarter, compared to analysts’ expectations of $298.90 million. During the same quarter last year, the firm earned $0.80 earnings per share. Equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

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.