State of New Jersey Common Pension Fund D Acquires 1,545 Shares of Texas Capital Bancshares, Inc. $TCBI

State of New Jersey Common Pension Fund D lifted its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 6.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 26,141 shares of the bank’s stock after purchasing an additional 1,545 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Texas Capital Bancshares worth $2,076,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Texas Capital Bancshares during the first quarter worth $528,000. Texas Capital Bank Wealth Management Services Inc increased its stake 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 valued at $18,630,000 after buying an additional 238,785 shares during the period. Intech Investment Management LLC increased its stake in shares of Texas Capital Bancshares by 22.1% in the 1st quarter. Intech Investment Management LLC now owns 29,790 shares of the bank’s stock valued at $2,225,000 after buying an additional 5,393 shares during the period. Edgestream Partners L.P. increased its stake in shares of Texas Capital Bancshares by 28.8% in the 1st quarter. Edgestream Partners L.P. now owns 131,139 shares of the bank’s stock valued at $9,796,000 after buying an additional 29,341 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Texas Capital Bancshares by 22.2% in the 1st quarter. Victory Capital Management Inc. now owns 117,828 shares of the bank’s stock valued at $8,802,000 after buying an additional 21,431 shares during the period. Institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Down 0.7%

NASDAQ:TCBI opened at $83.33 on Thursday. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month 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 0.19. The firm has a market capitalization of $3.80 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.64 and a beta of 0.67. The stock’s fifty day simple moving average is $85.10 and its 200-day simple moving average is $80.12.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.41. The business had revenue of $340.35 million for the quarter, compared to analyst estimates of $327.13 million. Texas Capital Bancshares had a return on equity of 9.51% and a net margin of 15.14%.The firm’s revenue was up 171.6% on a year-over-year basis. During the same period last year, the company earned ($1.41) EPS. Equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TCBI has been the subject of several research reports. Zacks Research cut Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. TD Cowen raised Texas Capital Bancshares to a “hold” rating in a research note on Thursday, September 25th. Keefe, Bruyette & Woods raised their price target on Texas Capital Bancshares from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday. Hovde Group raised their price target on Texas Capital Bancshares from $85.00 to $93.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Finally, DA Davidson set a $91.00 price target on Texas Capital Bancshares in a research report on Thursday, October 23rd. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $87.60.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,000 shares of Texas Capital Bancshares stock in a transaction on Friday, October 24th. The shares were purchased at an average cost of $20.61 per share, for a total transaction of $206,100.00. Following the completion of the acquisition, the director owned 265,913 shares in the company, valued at approximately $5,480,466.93. The trade was a 3.91% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.72% of the company’s stock.

About Texas Capital Bancshares

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.