10,356 Shares in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Acquired by LMR Partners LLP

LMR Partners LLP acquired a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,356 shares of the bank’s stock, valued at approximately $740,000.

A number of other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of Texas Capital Bancshares by 326.6% in the third quarter. Victory Capital Management Inc. now owns 70,103 shares of the bank’s stock valued at $5,010,000 after buying an additional 53,669 shares in the last quarter. Wolverine Asset Management LLC grew its stake in Texas Capital Bancshares by 23.6% in the 3rd quarter. Wolverine Asset Management LLC now owns 41,038 shares of the bank’s stock valued at $2,933,000 after acquiring an additional 7,849 shares during the last quarter. NJ State Employees Deferred Compensation Plan acquired a new position in Texas Capital Bancshares during the third quarter worth about $214,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Texas Capital Bancshares in the third quarter valued at about $201,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Texas Capital Bancshares by 3.5% in the third quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank’s stock valued at $383,000 after purchasing an additional 180 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average price of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now owns 84,587 shares in the company, valued at $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.53% of the stock is owned by insiders.

Texas Capital Bancshares Price Performance

TCBI opened at $85.90 on Wednesday. Texas Capital Bancshares, Inc. has a 1 year low of $53.16 and a 1 year high of $91.29. The company’s 50 day simple moving average is $76.59 and its 200 day simple moving average is $67.14. The stock has a market capitalization of $3.97 billion, a PE ratio of 477.22, a P/E/G ratio of 0.83 and a beta of 1.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The company had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. As a group, sell-side analysts expect that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Tuesday, September 17th. Wedbush reissued a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Barclays upped their price objective on Texas Capital Bancshares from $49.00 to $60.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $77.00 to $82.00 in a research report on Friday, October 18th. Finally, Royal Bank of Canada upped their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus target price of $74.00.

Texas Capital Bancshares Profile

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.