Pacer Advisors Inc. Buys Shares of 6,020 Texas Capital Bancshares, Inc. $TCBI

Pacer Advisors Inc. purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,020 shares of the bank’s stock, valued at approximately $509,000.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC grew its position in Texas Capital Bancshares by 7.1% in the second quarter. AQR Capital Management LLC now owns 1,534,446 shares of the bank’s stock valued at $121,636,000 after acquiring an additional 101,675 shares during the last quarter. Azora Capital LP grew its holdings in shares of Texas Capital Bancshares by 141.3% during the 2nd quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock valued at $73,843,000 after purchasing an additional 544,590 shares during the last quarter. Bank of New York Mellon Corp increased its position in Texas Capital Bancshares by 12.3% during the 2nd 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 in the last quarter. Norges Bank bought a new position in Texas Capital Bancshares in the 2nd quarter valued at approximately $45,364,000. Finally, Goldman Sachs Group Inc. boosted its position in Texas Capital Bancshares by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock valued at $41,837,000 after buying an additional 20,231 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Trading Up 1.3%

NASDAQ TCBI opened at $91.70 on Friday. The firm has a market capitalization of $4.19 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. The business’s 50-day moving average price is $89.70 and its two-hundred day moving average price is $86.17. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $98.07.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 EPS for the quarter, topping 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 company had revenue of $340.35 million for the quarter, compared to analyst estimates of $327.13 million. During the same period in the previous year, the firm earned ($1.41) earnings per share. The firm’s quarterly revenue was up 171.6% on a year-over-year basis. On average, analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TCBI. Hovde Group upped their price target on shares of Texas Capital Bancshares from $85.00 to $93.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. DA Davidson reiterated a “neutral” rating and issued a $91.00 target price on shares of Texas Capital Bancshares in a research report on Thursday, November 20th. Cowen started coverage on Texas Capital Bancshares in a research note on Wednesday, September 24th. They set a “hold” rating on the stock. Piper Sandler upped their price objective on Texas Capital Bancshares from $84.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Finally, Barclays raised their price objective on shares of Texas Capital Bancshares from $85.00 to $90.00 and gave the company an “underweight” rating in a report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and an average price target of $89.40.

Insider Activity

In other news, Director Robert W. Stallings acquired 10,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, October 24th. The shares were bought at an average cost of $20.61 per share, with a total value of $206,100.00. Following the purchase, the director owned 265,913 shares in the company, valued at $5,480,466.93. This trade represents a 3.91% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.72% of the company’s stock.

About Texas Capital Bancshares

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.