Fisher Asset Management LLC Boosts Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Fisher Asset Management LLC lifted its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 12.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 267,607 shares of the bank’s stock after purchasing an additional 30,395 shares during the period. Fisher Asset Management LLC owned approximately 0.58% of Texas Capital Bancshares worth $19,123,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in shares of Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after acquiring an additional 169 shares in the last quarter. Innealta Capital LLC acquired a new position in Texas Capital Bancshares during the 2nd quarter worth $26,000. Icon Wealth Advisors LLC purchased a new stake in Texas Capital Bancshares during the 3rd quarter worth about $31,000. CWM LLC raised its position in Texas Capital Bancshares by 40.8% in the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after purchasing an additional 275 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at about $71,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $89.22 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. Texas Capital Bancshares, Inc. has a fifty-two week low of $53.69 and a fifty-two week high of $91.80. The firm has a 50-day simple moving average of $78.32 and a 200-day simple moving average of $68.06. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 495.67, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The company had revenue of $304.91 million during the quarter, compared to analysts’ expectations of $279.64 million. On average, equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Analysts Set New Price Targets

TCBI has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Barclays boosted their target price on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price target on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Finally, Hovde Group upped their price objective on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.00.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were bought at an average price of $21.28 per share, with a total value of $425,600.00. Following the acquisition, the director now owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.53% of the stock is currently owned by corporate insiders.

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.