Charles Schwab Investment Management Inc. Acquires 10,171 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Charles Schwab Investment Management Inc. increased its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 1.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 570,839 shares of the bank’s stock after buying an additional 10,171 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.24% of Texas Capital Bancshares worth $40,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. AQR Capital Management LLC raised its stake in Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Texas Capital Bancshares by 43.8% in the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after acquiring an additional 171,263 shares during the period. Segall Bryant & Hamill LLC increased its position in Texas Capital Bancshares by 12.6% during the third quarter. Segall Bryant & Hamill LLC now owns 467,001 shares of the bank’s stock valued at $33,372,000 after acquiring an additional 52,095 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Texas Capital Bancshares by 11.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank’s stock valued at $23,323,000 after acquiring an additional 38,393 shares during the period. Finally, Millennium Management LLC boosted its position in Texas Capital Bancshares by 146.7% in the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after purchasing an additional 221,454 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert W. Stallings acquired 20,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, October 22nd. The shares were acquired at an average price of $21.28 per share, with a total value of $425,600.00. Following the purchase, the director now directly owns 84,587 shares in the company, valued at $1,800,011.36. The trade was a 30.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.99% of the company’s stock.

Analysts Set New Price Targets

TCBI has been the topic of several recent research reports. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $51.00 to $77.00 in a research note on Monday, September 9th. Hovde Group increased their price target on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Truist Financial boosted their price objective on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $77.00 to $82.00 in a report on Friday, October 18th. Finally, Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $74.00.

Texas Capital Bancshares Stock Up 0.2 %

Shares of TCBI opened at $88.64 on Tuesday. Texas Capital Bancshares, Inc. has a 12-month low of $54.68 and a 12-month high of $91.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $4.10 billion, a PE ratio of 490.17, a price-to-earnings-growth ratio of 0.84 and a beta of 1.12. The business’s 50 day moving average is $79.30 and its 200 day moving average is $68.63.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping the consensus estimate of $0.97 by $0.65. The firm had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. Research analysts expect that Texas Capital Bancshares, Inc. will post 4.15 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.