Charles Schwab Investment Management Inc. Buys 1,700 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Charles Schwab Investment Management Inc. boosted its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 572,539 shares of the bank’s stock after purchasing an additional 1,700 shares during the period. Charles Schwab Investment Management Inc. owned about 1.24% of Texas Capital Bancshares worth $44,773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Icon Wealth Advisors LLC acquired a new stake in Texas Capital Bancshares in the third quarter valued at $31,000. Venturi Wealth Management LLC bought a new stake in shares of Texas Capital Bancshares in the 4th quarter valued at about $37,000. R Squared Ltd acquired a new stake in Texas Capital Bancshares in the 4th quarter valued at about $41,000. Meeder Asset Management Inc. bought a new position in Texas Capital Bancshares during the third quarter worth about $71,000. Finally, KBC Group NV increased its position in Texas Capital Bancshares by 64.2% during the fourth quarter. KBC Group NV now owns 2,172 shares of the bank’s stock worth $170,000 after buying an additional 849 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TCBI shares. Barclays raised their target price on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. DA Davidson cut their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Hovde Group reduced their price objective on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a report on Friday, March 7th. Stephens lowered their target price on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus target price of $79.47.

Texas Capital Bancshares Stock Up 4.5 %

Shares of NASDAQ:TCBI opened at $74.65 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares, Inc. has a 52-week low of $54.68 and a 52-week high of $91.80. The business’s 50 day simple moving average is $78.29 and its two-hundred day simple moving average is $77.96. The firm has a market cap of $3.43 billion, a P/E ratio of 58.32, a PEG ratio of 0.75 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. As a group, research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 5,670 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were bought at an average price of $27.60 per share, with a total value of $156,492.00. Following the acquisition, the director now owns 180,893 shares of the company’s stock, valued at $4,992,646.80. This trade represents a 3.24 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 29,402 shares of company stock worth $653,787 over the last three months. 0.99% of the stock is currently owned by insiders.

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.