Pacer Advisors Inc. lifted its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,011 shares of the bank’s stock after buying an additional 350 shares during the period. Pacer Advisors Inc.’s holdings in Texas Capital Bancshares were worth $465,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of TCBI. BlackRock Inc. boosted its position in 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 purchasing an additional 5,566,317 shares during the last quarter. State Street Corp lifted its position in shares of Texas Capital Bancshares by 48.4% in the first quarter. State Street Corp now owns 3,047,810 shares of the bank’s stock worth $254,339,000 after buying an additional 994,585 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Texas Capital Bancshares by 37.2% in the second quarter. American Century Companies Inc. now owns 1,619,357 shares of the bank’s stock worth $125,338,000 after buying an additional 438,887 shares during the last quarter. FMR LLC acquired a new stake in shares of Texas Capital Bancshares in the first quarter worth about $21,563,000. Finally, Victory Capital Management Inc. lifted its position in shares of Texas Capital Bancshares by 123.2% in the first quarter. Victory Capital Management Inc. now owns 424,310 shares of the bank’s stock worth $35,409,000 after buying an additional 234,208 shares during the last quarter.
A number of analysts have weighed in on TCBI shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $104.00 price target on shares of Texas Capital Bancshares in a research report on Friday, July 14th. ValuEngine upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Tuesday, July 11th. Barclays PLC reiterated an “equal weight” rating and issued a $80.00 price objective (up from $75.00) on shares of Texas Capital Bancshares in a research note on Wednesday, July 12th. Finally, BidaskClub upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $86.86.
Texas Capital Bancshares, Inc. (NASDAQ TCBI) opened at 77.32 on Friday. Texas Capital Bancshares, Inc. has a one year low of $50.67 and a one year high of $93.35. The firm has a market capitalization of $3.84 billion, a P/E ratio of 21.46 and a beta of 1.67. The stock has a 50 day moving average price of $75.48 and a 200 day moving average price of $78.39.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a net margin of 21.84% and a return on equity of 10.01%. The business had revenue of $201.73 million during the quarter, compared to analysts’ expectations of $197.10 million. During the same quarter in the prior year, the company posted $0.78 EPS. On average, equities analysts predict that Texas Capital Bancshares, Inc. will post $4.01 EPS for the current fiscal year.
In related news, insider C Keith Cargill bought 3,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $74.15 per share, with a total value of $222,450.00. Following the transaction, the insider now owns 80,286 shares in the company, valued at approximately $5,953,206.90. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.
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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