Federated Hermes Inc. Purchases 75,061 Shares of Texas Capital Bancshares, Inc. $TCBI

Federated Hermes Inc. boosted its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 153.7% during the 3rd quarter, Holdings Channel reports. The fund owned 123,900 shares of the bank’s stock after buying an additional 75,061 shares during the period. Federated Hermes Inc.’s holdings in Texas Capital Bancshares were worth $10,473,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted 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 purchasing an additional 101,675 shares during the period. Azora Capital LP raised its stake in Texas Capital Bancshares by 141.3% in the second quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock worth $73,843,000 after buying an additional 544,590 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Texas Capital Bancshares by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 829,325 shares of the bank’s stock worth $70,103,000 after buying an additional 3,522 shares during the period. Bank of New York Mellon Corp boosted 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 valued at $52,216,000 after acquiring an additional 71,774 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Texas Capital Bancshares in the 2nd quarter valued at $45,364,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insider Activity at Texas Capital Bancshares

In related news, Director Laura L. Whitley purchased 500 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were purchased at an average cost of $97.51 per share, with a total value of $48,755.00. Following the purchase, the director owned 7,961 shares of the company’s stock, valued at $776,277.11. This represents a 6.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Stallings purchased 2,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was purchased at an average cost of $20.91 per share, for a total transaction of $41,820.00. Following the completion of the purchase, the director directly owned 277,913 shares of the company’s stock, valued at approximately $5,811,160.83. The trade was a 0.72% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 3,000 shares of company stock worth $139,355. 1.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Stephens upped their price objective on Texas Capital Bancshares from $111.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. 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. Piper Sandler lifted their price objective on shares of Texas Capital Bancshares from $86.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Capital Bancshares in a research note on Wednesday. Finally, Hovde Group raised their target price on shares of Texas Capital Bancshares from $93.00 to $102.00 and gave the company a “market perform” rating in a research note on Tuesday, January 27th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $101.17.

Texas Capital Bancshares Stock Up 0.1%

TCBI stock opened at $101.17 on Monday. The company has a market capitalization of $4.62 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.49 and a beta of 0.68. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $105.36. The firm’s fifty day simple moving average is $94.83 and its 200-day simple moving average is $88.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, January 22nd. The bank reported $2.08 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the business earned $1.43 earnings per share. As a group, equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

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.