Public Employees Retirement Association of Colorado grew its stake in Texas Capital Bancshares Inc (NASDAQ:TCBI) by 12.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 307,124 shares of the bank’s stock after acquiring an additional 33,383 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.61% of Texas Capital Bancshares worth $18,848,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in TCBI. Manchester Capital Management LLC bought a new stake in shares of Texas Capital Bancshares in the 1st quarter valued at about $34,000. First Interstate Bank increased its stake in shares of Texas Capital Bancshares by 23.2% in the 1st quarter. First Interstate Bank now owns 2,575 shares of the bank’s stock valued at $141,000 after acquiring an additional 485 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Texas Capital Bancshares in the 1st quarter valued at about $164,000. Great Lakes Advisors LLC bought a new stake in shares of Texas Capital Bancshares in the 1st quarter valued at about $288,000. Finally, Dupont Capital Management Corp bought a new stake in shares of Texas Capital Bancshares in the 1st quarter valued at about $311,000. 94.65% of the stock is owned by institutional investors.
In other Texas Capital Bancshares news, Director Ian J. Turpin sold 3,977 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $60.59, for a total transaction of $240,966.43. Following the completion of the transaction, the director now owns 4,632 shares of the company’s stock, valued at approximately $280,652.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO C Keith Cargill purchased 3,000 shares of Texas Capital Bancshares stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of $58.83 per share, with a total value of $176,490.00. Following the transaction, the chief executive officer now owns 120,847 shares in the company, valued at $7,109,429.01. The disclosure for this purchase can be found here. Corporate insiders own 0.54% of the company’s stock.
NASDAQ TCBI traded down $1.86 during trading hours on Wednesday, reaching $53.62. 6,838 shares of the company’s stock were exchanged, compared to its average volume of 671,729. The business’s 50-day moving average price is $59.50. Texas Capital Bancshares Inc has a one year low of $47.86 and a one year high of $94.95. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.26 and a quick ratio of 1.21. The firm has a market capitalization of $2.82 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 0.90 and a beta of 1.79.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.03). Texas Capital Bancshares had a return on equity of 13.29% and a net margin of 22.88%. The firm had revenue of $267.92 million for the quarter, compared to analyst estimates of $267.15 million. During the same period last year, the company earned $1.38 EPS. Analysts predict that Texas Capital Bancshares Inc will post 6.05 EPS for the current year.
A number of brokerages have recently commented on TCBI. Compass Point cut Texas Capital Bancshares from a “buy” rating to a “neutral” rating and set a $58.49 price target for the company. in a research note on Thursday, April 18th. Piper Jaffray Companies cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $71.50 to $64.50 in a research note on Friday, June 7th. Raymond James increased their target price on Texas Capital Bancshares from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Zacks Investment Research cut Texas Capital Bancshares from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research note on Tuesday, June 11th. Finally, UBS Group cut Texas Capital Bancshares from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $62.00 to $52.00 in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.90.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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