PNC Financial Services Group Inc. Grows Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

PNC Financial Services Group Inc. lifted its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 87.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,559 shares of the bank’s stock after purchasing an additional 1,657 shares during the period. PNC Financial Services Group Inc.’s holdings in Texas Capital Bancshares were worth $278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Icon Wealth Advisors LLC acquired a new stake in shares of Texas Capital Bancshares during the third quarter worth about $31,000. Assetmark Inc. acquired a new position in Texas Capital Bancshares in the 4th quarter valued at about $32,000. Venturi Wealth Management LLC acquired a new position in Texas Capital Bancshares in the 4th quarter valued at about $37,000. R Squared Ltd acquired a new position in Texas Capital Bancshares in the 4th quarter valued at about $41,000. Finally, KBC Group NV increased its position in Texas Capital Bancshares by 64.2% in the 4th quarter. KBC Group NV now owns 2,172 shares of the bank’s stock valued at $170,000 after acquiring an additional 849 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Hovde Group dropped their price target on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, March 7th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Barclays upped their target price on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Stephens cut their price target on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $95.00 price objective (down from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.47.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 5,670 shares of Texas Capital Bancshares stock in a transaction dated Friday, January 24th. The shares were acquired at an average price of $27.60 per share, with a total value of $156,492.00. Following the completion of the transaction, the director now owns 180,893 shares of the company’s stock, valued at approximately $4,992,646.80. This trade represents a 3.24 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have purchased 29,402 shares of company stock valued at $653,787. Insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $75.88 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average of $78.25 and a two-hundred day moving average of $78.36. The stock has a market cap of $3.50 billion, a P/E ratio of 59.28, a PEG ratio of 0.75 and a beta of 1.13. Texas Capital Bancshares, Inc. has a 1-year low of $54.68 and a 1-year high of $91.80.

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

Texas Capital Bancshares Company 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.