Bayforest Capital Ltd Buys 4,225 Shares of Texas Capital Bancshares, Inc. $TCBI

Bayforest Capital Ltd increased its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 183.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,534 shares of the bank’s stock after purchasing an additional 4,225 shares during the quarter. Bayforest Capital Ltd’s holdings in Texas Capital Bancshares were worth $519,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. UMB Bank n.a. raised its position in shares of Texas Capital Bancshares by 29.7% during the 2nd quarter. UMB Bank n.a. now owns 756 shares of the bank’s stock valued at $60,000 after acquiring an additional 173 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Texas Capital Bancshares by 1.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,838 shares of the bank’s stock valued at $810,000 after purchasing an additional 207 shares during the period. Tectonic Advisors LLC lifted its stake in shares of Texas Capital Bancshares by 0.9% in the 2nd quarter. Tectonic Advisors LLC now owns 32,668 shares of the bank’s stock valued at $2,594,000 after purchasing an additional 293 shares during the period. Inspire Investing LLC lifted its stake in shares of Texas Capital Bancshares by 6.4% in the 2nd quarter. Inspire Investing LLC now owns 4,899 shares of the bank’s stock valued at $389,000 after purchasing an additional 294 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Texas Capital Bancshares by 45.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,211 shares of the bank’s stock valued at $96,000 after purchasing an additional 380 shares during the period. 96.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TCBI shares. Cowen started coverage on Texas Capital Bancshares in a research note on Wednesday, September 24th. They issued a “hold” rating on the stock. Citigroup increased their price target on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a research note on Friday, July 18th. Wall Street Zen raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, July 13th. JPMorgan Chase & Co. increased their target price on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an “underweight” rating in a report on Tuesday, July 1st. Finally, TD Cowen upgraded shares of Texas Capital Bancshares to a “hold” rating in a report on Thursday, September 25th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $84.23.

Texas Capital Bancshares Trading Up 3.3%

Shares of NASDAQ:TCBI opened at $85.27 on Wednesday. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $94.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $85.09 and its 200 day simple moving average is $78.80. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 0.65 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The firm had revenue of $307.46 million for the quarter, compared to analyst estimates of $298.90 million. During the same period in the previous year, the business earned $0.80 EPS. As a group, research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

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.