Fisher Asset Management LLC Has $25.91 Million Position in Texas Capital Bancshares, Inc. $TCBI

Fisher Asset Management LLC cut its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 4.0% in the second quarter, Holdings Channel.com reports. The fund owned 326,286 shares of the bank’s stock after selling 13,430 shares during the quarter. Fisher Asset Management LLC’s holdings in Texas Capital Bancshares were worth $25,907,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in shares of Texas Capital Bancshares by 84.8% during the 1st 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 last quarter. Norges Bank acquired a new position in Texas Capital Bancshares during the second quarter worth $45,364,000. Nuveen LLC bought a new position in Texas Capital Bancshares during the first quarter valued at about $25,808,000. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of Texas Capital Bancshares by 2,249.3% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank’s stock worth $18,630,000 after buying an additional 238,785 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Texas Capital Bancshares by 339.3% in the first quarter. MetLife Investment Management LLC now owns 234,240 shares of the bank’s stock worth $17,498,000 after buying an additional 180,914 shares during the last quarter. 96.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Texas Capital Bancshares from $90.00 to $92.00 and gave the company an “underweight” rating in a research note on Thursday, October 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Texas Capital Bancshares from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Barclays upped their price objective on shares of Texas Capital Bancshares from $85.00 to $90.00 and gave the stock an “underweight” rating in a report on Tuesday, November 11th. Weiss Ratings upgraded shares of Texas Capital Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 31st. Finally, Zacks Research lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $88.10.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $90.87 on Wednesday. The company’s fifty day moving average is $85.24 and its two-hundred day moving average is $83.08. Texas Capital Bancshares, Inc. has a 52-week low of $59.37 and a 52-week high of $94.61. 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 $4.15 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 0.63 and a beta of 0.82.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.41. Texas Capital Bancshares had a net margin of 15.14% and a return on equity of 9.51%. The business 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 business earned ($1.41) earnings per share. The firm’s revenue for the quarter was up 171.6% on a year-over-year basis. Equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average cost of $20.68 per share, for a total transaction of $103,400.00. Following the completion of the purchase, the director owned 275,913 shares of the company’s stock, valued at $5,705,880.84. This trade represents a 1.85% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.72% of the company’s stock.

Texas Capital Bancshares 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.