LMR Partners LLP Invests $740,000 in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

by · The Markets Daily

LMR Partners LLP bought a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,356 shares of the bank’s stock, valued at approximately $740,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TCBI. SG Americas Securities LLC boosted its stake in shares of Texas Capital Bancshares by 40.4% in the 1st quarter. SG Americas Securities LLC now owns 3,932 shares of the bank’s stock valued at $242,000 after buying an additional 1,131 shares during the period. ProShare Advisors LLC lifted its stake in Texas Capital Bancshares by 3.3% in the first quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock worth $665,000 after acquiring an additional 344 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Texas Capital Bancshares by 11.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,252 shares of the bank’s stock worth $939,000 after acquiring an additional 1,570 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Texas Capital Bancshares by 2.5% in the 1st quarter. Clearbridge Investments LLC now owns 234,227 shares of the bank’s stock valued at $14,417,000 after purchasing an additional 5,671 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Texas Capital Bancshares by 7.0% in the 1st quarter. Bessemer Group Inc. now owns 170,832 shares of the bank’s stock valued at $10,514,000 after purchasing an additional 11,211 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Trading Down 0.1 %

Shares of TCBI stock opened at $85.90 on Wednesday. Texas Capital Bancshares, Inc. has a twelve month low of $53.16 and a twelve month high of $91.29. 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 business’s 50 day moving average is $76.59 and its two-hundred day moving average is $67.14. The company has a market capitalization of $3.97 billion, a P/E ratio of 477.22, a price-to-earnings-growth ratio of 0.83 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last issued its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The business had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. Equities analysts forecast that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert W. Stallings bought 20,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were bought at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the transaction, the director now owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TCBI. Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $77.00 to $82.00 in a research note on Friday, October 18th. Royal Bank of Canada increased their price objective on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price on the stock in a research report on Tuesday, September 17th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a report on Monday, September 9th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average target price of $74.00.

Get Our Latest Research Report on TCBI

Texas Capital Bancshares Company Profile

(Free Report)

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.

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