Wedge Capital Management L L P NC boosted its stake in shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) by 22.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 503,689 shares of the bank’s stock after purchasing an additional 92,272 shares during the period. Wedge Capital Management L L P NC’s holdings in Texas Capital Bancshares were worth $28,594,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Squarepoint Ops LLC grew its position in shares of Texas Capital Bancshares by 33.8% in the third quarter. Squarepoint Ops LLC now owns 48,038 shares of the bank’s stock valued at $2,625,000 after purchasing an additional 12,123 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Texas Capital Bancshares by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 77,398 shares of the bank’s stock worth $4,230,000 after purchasing an additional 1,226 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Texas Capital Bancshares by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 79,960 shares of the bank’s stock worth $4,370,000 after purchasing an additional 215 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Texas Capital Bancshares during the 3rd quarter worth about $736,000. Finally, BBVA USA Bancshares Inc. raised its position in shares of Texas Capital Bancshares by 381.5% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 20,276 shares of the bank’s stock worth $1,108,000 after purchasing an additional 16,065 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.
TCBI stock opened at $54.35 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average of $58.00 and a two-hundred day moving average of $57.00. Texas Capital Bancshares Inc has a 12 month low of $50.77 and a 12 month high of $66.61. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 1.23 and a beta of 1.88.
TCBI has been the topic of several research analyst reports. Royal Bank of Canada cut Texas Capital Bancshares from an “outperform” rating to a “sector perform” rating and set a $66.00 price objective on the stock. in a report on Tuesday, December 10th. Bank of America cut Texas Capital Bancshares from a “buy” rating to a “neutral” rating and set a $66.00 target price for the company. in a report on Wednesday, December 18th. ValuEngine upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, January 4th. Sandler O’Neill raised Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, December 11th. Finally, SunTrust Banks dropped their price target on Texas Capital Bancshares from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $62.08.
In related news, Director Steve Rosenberg sold 1,997 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $55.48, for a total transaction of $110,793.56. Following the transaction, the director now owns 36,115 shares in the company, valued at $2,003,660.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by company insiders.
Texas Capital Bancshares Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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