Clearbridge Investments LLC Boosts Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Clearbridge Investments LLC raised its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,227 shares of the bank’s stock after acquiring an additional 5,671 shares during the quarter. Clearbridge Investments LLC owned approximately 0.50% of Texas Capital Bancshares worth $14,417,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Texas Capital Bancshares by 426.6% during the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Texas Capital Bancshares during the first quarter worth about $50,000. Fidelis Capital Partners LLC purchased a new stake in shares of Texas Capital Bancshares during the first quarter worth about $54,000. Headlands Technologies LLC grew its holdings in shares of Texas Capital Bancshares by 41.9% during the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock worth $104,000 after buying an additional 476 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter worth about $139,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TCBI has been the subject of a number of recent research reports. Mizuho reiterated a “hold” rating and set a $66.00 price target (down from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Hovde Group lowered their price target on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a report on Friday, April 19th. Royal Bank of Canada lowered their target price on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their target price on shares of Texas Capital Bancshares from $63.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Raymond James downgraded shares of Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 4th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and a consensus target price of $65.19.

Texas Capital Bancshares Stock Down 3.3 %

TCBI traded down $2.19 during trading on Wednesday, hitting $65.12. The company had a trading volume of 388,021 shares, compared to its average volume of 430,958. The company has a market cap of $3.01 billion, a PE ratio of 19.73, a P/E/G ratio of 1.74 and a beta of 1.15. The business has a 50-day moving average of $60.80 and a 200-day moving average of $60.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99. Texas Capital Bancshares, Inc. has a 1-year low of $52.89 and a 1-year high of $72.07.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million during the quarter, compared to analyst estimates of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same period in the prior year, the company earned $1.33 earnings per share. As a group, analysts forecast that Texas Capital Bancshares, Inc. will post 3.42 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average cost of $19.50 per share, with a total value of $58,500.00. Following the completion of the acquisition, the director now directly owns 156,706 shares of the company’s stock, valued at approximately $3,055,767. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 3,000 shares of the stock in a transaction on Friday, May 10th. The stock was purchased at an average price of $19.50 per share, for a total transaction of $58,500.00. Following the completion of the purchase, the director now directly owns 156,706 shares in the company, valued at $3,055,767. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Stallings bought 6,000 shares of the stock in a transaction on Monday, May 20th. The shares were acquired at an average price of $19.52 per share, with a total value of $117,120.00. Following the purchase, the director now owns 163,706 shares of the company’s stock, valued at $3,195,541.12. The disclosure for this purchase can be found here. Insiders have purchased 15,004 shares of company stock valued at $292,878 over the last ninety days. Corporate insiders own 0.99% of the company’s stock.

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.