Icon Wealth Advisors LLC Takes $103,000 Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Icon Wealth Advisors LLC purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,443 shares of the bank’s stock, valued at approximately $103,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TCBI. Innealta Capital LLC bought a new stake in shares of Texas Capital Bancshares during the 2nd quarter valued at $26,000. Blue Trust Inc. lifted its position in Texas Capital Bancshares by 89.9% during the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after purchasing an additional 169 shares during the period. CWM LLC grew its stake in Texas Capital Bancshares by 40.8% during the second quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after buying an additional 275 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Texas Capital Bancshares during the third quarter worth about $71,000. Finally, Crossmark Global Holdings Inc. bought a new position in Texas Capital Bancshares in the 3rd quarter valued at about $201,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TCBI. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $74.00 price target on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Barclays upped their target price on Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their price target for the company from $51.00 to $77.00 in a research note on Monday, September 9th. Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lifted their target price on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” 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 issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.00.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $88.45 on Monday. The stock has a market cap of $4.09 billion, a P/E ratio of 491.39, a P/E/G ratio of 0.84 and a beta of 1.12. The business’s fifty day moving average is $79.30 and its 200 day moving average is $68.58. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a 12-month low of $53.69 and a 12-month high of $91.80.

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

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 20,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were acquired at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the purchase, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.99% of the company’s stock.

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.