Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) by 14.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,036 shares of the bank’s stock after buying an additional 28,909 shares during the quarter. Principal Financial Group Inc.’s holdings in Texas Capital Bancshares were worth $13,451,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. State of Michigan Retirement System raised its stake in shares of Texas Capital Bancshares by 1.6% during the 4th quarter. State of Michigan Retirement System now owns 12,752 shares of the bank’s stock worth $769,000 after buying an additional 200 shares during the period. Amalgamated Bank raised its stake in shares of Texas Capital Bancshares by 0.7% during the 3rd quarter. Amalgamated Bank now owns 33,098 shares of the bank’s stock worth $1,954,000 after buying an additional 222 shares during the period. Eagle Bay Advisors LLC raised its stake in shares of Texas Capital Bancshares by 23.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,341 shares of the bank’s stock worth $81,000 after buying an additional 253 shares during the period. HighTower Advisors LLC raised its stake in shares of Texas Capital Bancshares by 2.8% during the 4th quarter. HighTower Advisors LLC now owns 9,770 shares of the bank’s stock worth $589,000 after buying an additional 266 shares during the period. Finally, Credit Suisse AG raised its stake in shares of Texas Capital Bancshares by 0.7% during the 3rd quarter. Credit Suisse AG now owns 38,447 shares of the bank’s stock worth $2,270,000 after buying an additional 285 shares during the period. 96.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 5,000 shares of the stock in a transaction dated Friday, April 21st. The stock was acquired at an average cost of $52.15 per share, for a total transaction of $260,750.00. Following the acquisition, the director now owns 187,000 shares in the company, valued at approximately $9,752,050. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 16,000 shares of the stock in a transaction dated Monday, April 24th. The stock was acquired at an average cost of $51.44 per share, for a total transaction of $823,040.00. Following the acquisition, the director now owns 203,000 shares in the company, valued at approximately $10,442,320. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert W. Stallings purchased 5,000 shares of the stock in a transaction dated Friday, April 21st. The shares were acquired at an average price of $52.15 per share, with a total value of $260,750.00. Following the completion of the acquisition, the director now owns 187,000 shares in the company, valued at approximately $9,752,050. The disclosure for this purchase can be found here. Insiders purchased a total of 43,610 shares of company stock worth $1,961,943 in the last three months. 0.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TCBI. Truist Financial upped their target price on Texas Capital Bancshares from $63.00 to $64.00 in a research note on Monday, April 24th. JPMorgan Chase & Co. reduced their price objective on Texas Capital Bancshares from $55.00 to $50.00 in a research note on Thursday, April 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $59.00 price objective on shares of Texas Capital Bancshares in a research note on Friday, April 21st. Stephens increased their price objective on Texas Capital Bancshares from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, April 21st. Finally, Raymond James reduced their price objective on Texas Capital Bancshares from $73.00 to $65.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 6th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and an average price target of $57.90.

Texas Capital Bancshares Stock Down 2.4 %

Shares of NASDAQ:TCBI opened at $50.19 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average of $49.49 and a two-hundred day moving average of $57.17. The stock has a market cap of $2.40 billion, a P/E ratio of 8.02, a PEG ratio of 1.64 and a beta of 1.27. Texas Capital Bancshares, Inc. has a 52-week low of $42.79 and a 52-week high of $69.26.

Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last issued its earnings results on Thursday, April 20th. The bank reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.20). The company had revenue of $422.57 million during the quarter, compared to analysts’ expectations of $267.71 million. Texas Capital Bancshares had a net margin of 19.64% and a return on equity of 6.00%. During the same quarter in the previous year, the company earned $0.69 earnings per share. On average, research analysts expect that Texas Capital Bancshares, Inc. will post 3.91 earnings per share for the current year.

About Texas Capital Bancshares

(Get Rating)

Texas Capital Bancshares, Inc is the holding company of Texas Capital Bank, which engages in the provision of financial services and customized solutions to businesses, entrepreneurs, and individual customers. The company was founded by George F. Jones, Jr. and Joseph M. Grant in November 1996 and is headquartered in Dallas, TX.