Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 18.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,303 shares of the bank’s stock after purchasing an additional 1,475 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Texas Capital Bancshares were worth $601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TCBI. North Reef Capital Management LP grew its holdings in shares of Texas Capital Bancshares by 99.2% in the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock worth $85,405,000 after purchasing an additional 722,250 shares during the last quarter. Wellington Management Group LLP grew its holdings in Texas Capital Bancshares by 78.0% in the 3rd quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock worth $32,937,000 after acquiring an additional 245,074 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Texas Capital Bancshares in the third quarter valued at about $13,354,000. AQR Capital Management LLC raised its stake in shares of Texas Capital Bancshares by 155.3% during the third quarter. AQR Capital Management LLC now owns 297,143 shares of the bank’s stock valued at $17,502,000 after acquiring an additional 180,743 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Texas Capital Bancshares by 131.9% during the third quarter. New York State Common Retirement Fund now owns 150,829 shares of the bank’s stock worth $8,884,000 after purchasing an additional 85,793 shares during the period. Institutional investors own 96.88% of the company’s stock.

Wall Street Analyst Weigh In

TCBI has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price target on Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Mizuho restated a “hold” rating and set a $66.00 target price (down previously from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Wedbush cut their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Barclays started coverage on shares of Texas Capital Bancshares in a report on Friday, March 8th. They issued an “underweight” rating and a $47.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut their target price on shares of Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus price target of $63.58.

Texas Capital Bancshares Stock Up 1.7 %

Shares of Texas Capital Bancshares stock opened at $58.37 on Thursday. Texas Capital Bancshares, Inc. has a 1 year low of $42.79 and a 1 year high of $66.18. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.06 and a beta of 1.19. The company has a 50-day moving average of $58.87 and a 200 day moving average of $59.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Thomas E. Long bought 2,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the acquisition, the director now owns 7,542 shares of the company’s stock, valued at $443,318.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Thomas E. Long purchased 2,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the acquisition, the director now directly owns 7,542 shares of the company’s stock, valued at $443,318.76. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Stallings purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average price of $18.64 per share, for a total transaction of $111,840.00. Following the purchase, the director now owns 146,706 shares in the company, valued at $2,734,599.84. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 13,000 shares of company stock worth $323,450. 0.99% of the stock is currently owned by company insiders.

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.