Wealth Enhancement Advisory Services LLC Increases Stock Position in Texas Capital Bancshares, Inc. $TCBI

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 22.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,682 shares of the bank’s stock after buying an additional 1,614 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Texas Capital Bancshares were worth $745,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Pallas Capital Advisors LLC lifted its position in shares of Texas Capital Bancshares by 11.3% during the second quarter. Pallas Capital Advisors LLC now owns 4,255 shares of the bank’s stock worth $338,000 after purchasing an additional 432 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Texas Capital Bancshares during the second quarter worth about $656,000. Strs Ohio acquired a new stake in shares of Texas Capital Bancshares during the first quarter worth about $194,000. Intech Investment Management LLC lifted its position in shares of Texas Capital Bancshares by 22.1% during the first quarter. Intech Investment Management LLC now owns 29,790 shares of the bank’s stock worth $2,225,000 after purchasing an additional 5,393 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its position in shares of Texas Capital Bancshares by 69.7% during the first quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank’s stock worth $172,000 after purchasing an additional 948 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Performance

Shares of TCBI opened at $84.72 on Friday. 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 firm has a market cap of $3.88 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 0.69 and a beta of 0.67. The company’s 50 day simple moving average is $84.95 and its 200-day simple moving average is $78.36. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month high of $94.61.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TCBI. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Capital Bancshares in a research report on Saturday, September 27th. Hovde Group raised their target price on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a “market perform” rating in a report on Friday, July 18th. Cowen initiated coverage on shares of Texas Capital Bancshares in a report on Wednesday, September 24th. They issued a “hold” rating on the stock. Wall Street Zen raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. Finally, Citigroup raised their target price on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and an average target price of $84.00.

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.