Azora Capital LP Buys 544,590 Shares of Texas Capital Bancshares, Inc. $TCBI

Azora Capital LP lifted its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 141.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 930,014 shares of the bank’s stock after buying an additional 544,590 shares during the quarter. Texas Capital Bancshares makes up approximately 3.3% of Azora Capital LP’s portfolio, making the stock its 11th biggest holding. Azora Capital LP owned approximately 2.03% of Texas Capital Bancshares worth $73,843,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its holdings in Texas Capital Bancshares by 0.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank’s stock valued at $248,936,000 after purchasing an additional 26,786 shares during the period. AQR Capital Management LLC increased its holdings in shares of Texas Capital Bancshares by 84.8% in 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. Bank of New York Mellon Corp raised its position in shares of Texas Capital Bancshares by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 657,626 shares of the bank’s stock worth $52,216,000 after buying an additional 71,774 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 buying an additional 14,169 shares during the period. Finally, Norges Bank purchased a new position in Texas Capital Bancshares during the second quarter worth about $45,364,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert W. Stallings acquired 5,000 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were purchased at an average price of $20.68 per share, for a total transaction of $103,400.00. Following the completion of the transaction, the director owned 275,913 shares of the company’s stock, valued at $5,705,880.84. The trade was a 1.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.72% of the stock is owned by insiders.

Texas Capital Bancshares Price Performance

TCBI opened at $93.24 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $86.00 and its 200 day simple moving average is $83.79. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.60 and a beta of 0.68. Texas Capital Bancshares, Inc. has a 1 year low of $59.37 and a 1 year high of $94.86.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.41. Texas Capital Bancshares had a return on equity of 9.51% and a net margin of 15.14%.The firm had revenue of $340.35 million during the quarter, compared to analyst estimates of $327.13 million. During the same quarter in the prior year, the firm posted ($1.41) earnings per share. The business’s quarterly revenue was up 171.6% compared to the same quarter last year. As a group, analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TCBI shares. Weiss Ratings raised Texas Capital Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 31st. Cowen initiated coverage on shares of Texas Capital Bancshares in a research note on Wednesday, September 24th. They issued a “hold” rating on the stock. Piper Sandler lifted their target price on shares of Texas Capital Bancshares from $84.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Keefe, Bruyette & Woods increased their price target on shares of Texas Capital Bancshares from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, TD Cowen upgraded shares of Texas Capital Bancshares to a “hold” rating in a research report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $88.10.

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.