Citigroup Inc. raised its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 286.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,053 shares of the bank’s stock after purchasing an additional 8,934 shares during the period. Citigroup Inc.’s holdings in Texas Capital Bancshares were worth $933,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of TCBI. BlackRock Inc. grew its holdings in shares of Texas Capital Bancshares by 19,441.6% during the first quarter. BlackRock Inc. now owns 5,594,948 shares of the bank’s stock valued at $466,900,000 after buying an additional 5,566,317 shares during the last quarter. State Street Corp boosted its holdings in Texas Capital Bancshares by 48.4% during the first quarter. State Street Corp now owns 3,047,810 shares of the bank’s stock worth $254,339,000 after purchasing an additional 994,585 shares during the last quarter. American Century Companies Inc. boosted its holdings in Texas Capital Bancshares by 37.2% during the second quarter. American Century Companies Inc. now owns 1,619,357 shares of the bank’s stock worth $125,338,000 after purchasing an additional 438,887 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Texas Capital Bancshares by 4.7% during the second quarter. Alliancebernstein L.P. now owns 1,369,988 shares of the bank’s stock worth $106,037,000 after purchasing an additional 61,357 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Texas Capital Bancshares by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 940,968 shares of the bank’s stock worth $72,830,000 after purchasing an additional 41,564 shares during the last quarter.
Texas Capital Bancshares, Inc. (TCBI) opened at 85.20 on Tuesday. Texas Capital Bancshares, Inc. has a 1-year low of $54.70 and a 1-year high of $93.35. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 23.65 and a beta of 1.68. The firm’s 50-day moving average is $80.14 and its 200 day moving average is $78.01.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. The business had revenue of $201.73 million during the quarter, compared to the consensus estimate of $197.10 million. During the same period last year, the company earned $0.78 EPS. Equities analysts anticipate that Texas Capital Bancshares, Inc. will post $4.00 EPS for the current fiscal year.
In related news, insider C Keith Cargill bought 3,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $74.15 per share, with a total value of $222,450.00. Following the purchase, the insider now directly owns 80,286 shares of the company’s stock, valued at $5,953,206.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.47% of the stock is owned by company insiders.
Several research analysts recently weighed in on TCBI shares. Zacks Investment Research cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. BidaskClub cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Stephens restated a “hold” rating and set a $84.00 price target on shares of Texas Capital Bancshares in a report on Thursday, July 20th. Royal Bank Of Canada began coverage on shares of Texas Capital Bancshares in a research note on Wednesday, September 6th. They issued an “outperform” rating and a $90.00 target price on the stock. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $86.00 target price on shares of Texas Capital Bancshares in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $87.33.
Texas Capital Bancshares Profile
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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