Cibc World Market Inc. Takes $2.68 Million Position in Texas Capital Bancshares, Inc. $TCBI

Cibc World Market Inc. purchased a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 31,668 shares of the bank’s stock, valued at approximately $2,677,000. Cibc World Market Inc. owned approximately 0.07% of Texas Capital Bancshares as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TCBI. AQR Capital Management LLC grew its position in shares of Texas Capital Bancshares by 7.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,534,446 shares of the bank’s stock worth $121,636,000 after acquiring an additional 101,675 shares in the last quarter. Azora Capital LP lifted its stake in Texas Capital Bancshares by 141.3% during the second quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock worth $73,843,000 after purchasing an additional 544,590 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Texas Capital Bancshares by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 829,325 shares of the bank’s stock worth $70,103,000 after purchasing an additional 3,522 shares during the period. Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 71,774 shares during the period. Finally, Norges Bank bought a new stake in Texas Capital Bancshares during the second quarter valued at $45,364,000. 96.88% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Laura L. Whitley purchased 500 shares of the company’s stock in a transaction on Monday, January 26th. The shares were bought at an average cost of $97.51 per share, for a total transaction of $48,755.00. Following the transaction, the director owned 7,961 shares of the company’s stock, valued at $776,277.11. This represents a 6.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert W. Stallings purchased 2,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $20.91 per share, with a total value of $41,820.00. Following the completion of the purchase, the director owned 277,913 shares in the company, valued at approximately $5,811,160.83. This trade represents a 0.72% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 3,000 shares of company stock valued at $139,355 in the last ninety days. Corporate insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $103.42 on Monday. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month high of $108.92. 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 firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 0.50 and a beta of 0.68. The business has a 50 day simple moving average of $97.31 and a 200 day simple moving average of $89.55.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.30. Texas Capital Bancshares had a return on equity of 10.05% and a net margin of 16.52%.The firm had revenue of $327.48 million for the quarter, compared to the consensus estimate of $324.09 million. During the same quarter in the previous year, the business earned $1.43 EPS. On average, equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Texas Capital Bancshares from $92.00 to $105.00 and gave the company an “underweight” rating in a report on Tuesday, December 16th. Barclays lifted their target price on Texas Capital Bancshares from $90.00 to $100.00 and gave the company an “underweight” rating in a research note on Friday, January 23rd. Royal Bank Of Canada upped their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the company a “sector perform” rating in a report on Friday, January 23rd. TD Cowen raised their price target on Texas Capital Bancshares from $103.00 to $110.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Finally, Citigroup boosted their price objective on Texas Capital Bancshares from $75.00 to $88.00 and gave the company a “sell” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $101.17.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.