Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Stock Holdings Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 10.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,434 shares of the bank’s stock after purchasing an additional 1,513 shares during the period. Victory Capital Management Inc.’s holdings in Texas Capital Bancshares were worth $1,005,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its holdings in Texas Capital Bancshares by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank’s stock worth $828,000 after buying an additional 257 shares during the last quarter. CWM LLC increased its stake in shares of Texas Capital Bancshares by 40.8% during the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after purchasing an additional 275 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Texas Capital Bancshares by 3.3% during the 1st quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock valued at $665,000 after purchasing an additional 344 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Texas Capital Bancshares in the 2nd quarter valued at $26,000. Finally, AlphaMark Advisors LLC boosted its holdings in Texas Capital Bancshares by 11.6% in the second quarter. AlphaMark Advisors LLC now owns 5,257 shares of the bank’s stock worth $321,000 after purchasing an additional 546 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TCBI shares. Truist Financial boosted their price target on Texas Capital Bancshares from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on Texas Capital Bancshares from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 target price on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target on the stock in a research report on Tuesday. Finally, Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $51.00 to $77.00 in a research note on Monday, September 9th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.97.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $72.00 on Friday. The firm has a market capitalization of $3.36 billion, a PE ratio of 21.82, a PEG ratio of 1.02 and a beta of 1.13. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. Texas Capital Bancshares, Inc. has a 1-year low of $52.89 and a 1-year high of $74.57. The business’s 50 day moving average is $65.39 and its 200-day moving average is $61.49.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). The business had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same period last year, the firm earned $1.33 EPS. Sell-side analysts predict that Texas Capital Bancshares, Inc. will post 3.43 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 15,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $400,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Robert W. Stallings bought 10,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, July 29th. The shares were bought at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the purchase, the director now owns 31,294 shares of the company’s stock, valued at $640,275.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Stallings bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $20.00 per share, with a total value of $300,000.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $400,000. The disclosure for this purchase can be found here. Insiders have acquired a total of 43,500 shares of company stock valued at $876,400 over the last quarter. 0.99% of the stock is owned by company insiders.

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.