Central Pacific Bank Trust Division Acquires New Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Central Pacific Bank Trust Division purchased a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,352 shares of the bank’s stock, valued at approximately $438,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its stake in Texas Capital Bancshares by 426.6% in the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after purchasing an additional 546 shares during the period. Mather Group LLC. bought a new position in Texas Capital Bancshares in the 1st quarter worth approximately $50,000. Fidelis Capital Partners LLC bought a new position in Texas Capital Bancshares in the 1st quarter worth approximately $54,000. Headlands Technologies LLC raised its holdings in shares of Texas Capital Bancshares by 41.9% during the 4th quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock worth $104,000 after acquiring an additional 476 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new stake in shares of Texas Capital Bancshares during the 4th quarter worth approximately $139,000. 96.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 3,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was bought at an average cost of $19.50 per share, for a total transaction of $58,500.00. Following the completion of the purchase, the director now owns 156,706 shares in the company, valued at approximately $3,055,767. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 3,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was bought at an average cost of $19.50 per share, for a total transaction of $58,500.00. Following the completion of the purchase, the director now owns 156,706 shares in the company, valued at approximately $3,055,767. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings purchased 6,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was acquired at an average price of $19.52 per share, with a total value of $117,120.00. Following the completion of the purchase, the director now owns 163,706 shares of the company’s stock, valued at approximately $3,195,541.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 15,004 shares of company stock worth $292,878. 1.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Jefferies Financial Group decreased their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Hovde Group decreased their price target on Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a report on Friday, April 19th. Royal Bank of Canada cut their price objective on Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 9th. Finally, Citigroup cut their price objective on Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average target price of $63.65.

Texas Capital Bancshares Stock Performance

TCBI stock remained flat at $60.82 during trading on Wednesday. The company had a trading volume of 6,194 shares, compared to its average volume of 413,230. Texas Capital Bancshares, Inc. has a 12 month low of $52.89 and a 12 month high of $66.18. The company’s 50 day moving average price is $59.65 and its 200 day moving average price is $60.03. The company has a market capitalization of $2.84 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.48 and a beta of 1.15. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, April 18th. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. The company had revenue of $256.33 million during the quarter, compared to analysts’ expectations of $253.27 million. As a group, research analysts forecast that Texas Capital Bancshares, Inc. will post 3.5 EPS for the current 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.