First Trust Advisors LP increased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 16.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 337,634 shares of the bank’s stock after buying an additional 46,631 shares during the period. First Trust Advisors LP owned about 0.68% of Texas Capital Bancshares worth $26,133,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Exane Derivatives bought a new stake in Texas Capital Bancshares during the second quarter worth $125,000. Canada Pension Plan Investment Board boosted its stake in Texas Capital Bancshares by 88.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock worth $142,000 after buying an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Texas Capital Bancshares by 46.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,770 shares of the bank’s stock worth $148,000 after buying an additional 563 shares during the last quarter. Parkwood LLC bought a new stake in Texas Capital Bancshares during the first quarter worth $211,000. Finally, Cipher Capital LP bought a new stake in Texas Capital Bancshares during the first quarter worth $220,000.
Texas Capital Bancshares, Inc. (TCBI) opened at 74.55 on Thursday. The stock’s 50 day moving average is $78.28 and its 200-day moving average is $80.09. Texas Capital Bancshares, Inc. has a one year low of $48.01 and a one year high of $93.35. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 20.69 and a beta of 1.67.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $201.73 million during the quarter, compared to analyst estimates of $197.10 million. Texas Capital Bancshares had a net margin of 21.84% and a return on equity of 10.01%. During the same period in the previous year, the business posted $0.78 earnings per share. On average, equities research analysts expect that Texas Capital Bancshares, Inc. will post $4.01 earnings per share for the current fiscal year.
A number of research firms have weighed in on TCBI. ValuEngine raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. BidaskClub cut shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday. Hovde Group boosted their target price on shares of Texas Capital Bancshares from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Barclays PLC reaffirmed a “hold” rating and set a $75.00 target price (down previously from $78.00) on shares of Texas Capital Bancshares in a research note on Friday, April 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $86.15.
In related news, CFO Peter B. Bartholow sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $74.52, for a total transaction of $298,080.00. Following the completion of the sale, the chief financial officer now directly owns 37,671 shares in the company, valued at $2,807,242.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider C Keith Cargill bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $74.15 per share, with a total value of $222,450.00. Following the completion of the transaction, the insider now directly owns 80,286 shares of the company’s stock, valued at approximately $5,953,206.90. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.
About Texas Capital Bancshares
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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