Assetmark Inc. Makes New Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Assetmark Inc. bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 409 shares of the bank’s stock, valued at approximately $32,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC acquired a new stake in shares of Texas Capital Bancshares during the 3rd quarter valued at $31,000. Venturi Wealth Management LLC acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at $37,000. R Squared Ltd acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at $41,000. Meeder Asset Management Inc. acquired a new stake in shares of Texas Capital Bancshares during the 3rd quarter valued at $71,000. Finally, KBC Group NV lifted its position in shares of Texas Capital Bancshares by 64.2% during 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 last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on TCBI shares. DA Davidson cut their target price on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Barclays boosted their target price on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Hovde Group dropped their price target on shares of Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating on the stock in a research note on Friday, March 7th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 price target (down from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.47.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock opened at $74.65 on Monday. 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 market cap of $3.44 billion, a P/E ratio of 58.32, a P/E/G ratio of 0.75 and a beta of 1.13. The firm has a 50 day simple moving average of $78.29 and a 200 day simple moving average of $78.12. Texas Capital Bancshares, Inc. has a fifty-two week low of $54.68 and a fifty-two week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results 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%. Sell-side analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 5,670 shares of Texas Capital Bancshares stock in a transaction on Friday, January 24th. The shares were purchased at an average price of $27.60 per share, for a total transaction of $156,492.00. Following the completion of the acquisition, the director now owns 180,893 shares in the company, valued at approximately $4,992,646.80. This represents a 3.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 29,402 shares of company stock worth $653,787. Insiders own 1.72% of the company’s stock.

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.