First Hawaiian Bank Makes New $675,000 Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

First Hawaiian Bank acquired a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 11,042 shares of the bank’s stock, valued at approximately $675,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Teachers Retirement System of The State of Kentucky boosted its position in shares of Texas Capital Bancshares by 154.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 43,257 shares of the bank’s stock worth $2,663,000 after buying an additional 26,273 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Texas Capital Bancshares by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,357 shares of the bank’s stock worth $1,807,000 after buying an additional 1,494 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of Texas Capital Bancshares in the 1st quarter worth about $400,000. Keeley Teton Advisors LLC boosted its position in shares of Texas Capital Bancshares by 12.8% in the 1st quarter. Keeley Teton Advisors LLC now owns 29,514 shares of the bank’s stock worth $1,817,000 after buying an additional 3,346 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in Texas Capital Bancshares by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 170,832 shares of the bank’s stock worth $10,514,000 after purchasing an additional 11,211 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Stock Down 3.7 %

Shares of NASDAQ TCBI traded down $2.22 during trading hours on Monday, hitting $58.18. The stock had a trading volume of 486,871 shares, compared to its average volume of 431,461. The company has a market capitalization of $2.69 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.73 and a beta of 1.15. The firm’s 50-day moving average price is $61.49 and its two-hundred day moving average price is $60.37. Texas Capital Bancshares, Inc. has a 52 week low of $52.89 and a 52 week high of $72.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.06). The firm had revenue of $472.49 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted $1.33 EPS. Analysts anticipate that Texas Capital Bancshares, Inc. will post 3.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TCBI shares. Hovde Group dropped their price objective on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a research note on Friday, April 19th. Jefferies Financial Group decreased their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. raised their price target on shares of Texas Capital Bancshares from $63.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Stephens lifted their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Wedbush raised their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and an average price target of $65.19.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 14,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was bought at an average cost of $19.93 per share, for a total transaction of $279,020.00. Following the completion of the acquisition, the director now directly owns 55,294 shares in the company, valued at $1,102,009.42. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert W. Stallings purchased 3,000 shares of the stock in a transaction on Friday, May 10th. The shares were purchased at an average cost of $19.50 per share, for a total transaction of $58,500.00. Following the completion of the transaction, the director now directly owns 156,706 shares of the company’s stock, valued at approximately $3,055,767. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert W. Stallings purchased 14,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was bought at an average price of $19.93 per share, for a total transaction of $279,020.00. Following the completion of the transaction, the director now directly owns 55,294 shares of the company’s stock, valued at $1,102,009.42. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 43,504 shares of company stock worth $869,278. 0.99% of the stock is currently owned by insiders.

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.