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

Norges Bank purchased a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBIFree Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 543,408 shares of the bank’s stock, valued at approximately $35,120,000.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Texas Capital Bancshares by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,820,025 shares of the bank’s stock valued at $283,899,000 after purchasing an additional 25,113 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Texas Capital Bancshares by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock valued at $211,025,000 after buying an additional 80,311 shares in the last quarter. North Reef Capital Management LP raised its stake in Texas Capital Bancshares by 99.2% during the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock valued at $85,405,000 after buying an additional 722,250 shares during the last quarter. Heartland Advisors Inc. boosted its holdings in Texas Capital Bancshares by 7.8% in the fourth quarter. Heartland Advisors Inc. now owns 819,896 shares of the bank’s stock worth $54,442,000 after acquiring an additional 59,132 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Texas Capital Bancshares by 8.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 720,263 shares of the bank’s stock worth $46,551,000 after acquiring an additional 56,495 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert W. Stallings purchased 3,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was acquired at an average price of $19.36 per share, with a total value of $58,080.00. Following the completion of the acquisition, the director now owns 169,706 shares of the company’s stock, valued at approximately $3,285,508.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robert W. Stallings purchased 3,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were acquired at an average price of $19.36 per share, with a total value of $58,080.00. Following the completion of the acquisition, the director now directly owns 169,706 shares of the company’s stock, valued at $3,285,508.16. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Stallings purchased 6,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was purchased at an average price of $19.52 per share, with a total value of $117,120.00. Following the completion of the transaction, the director now owns 163,706 shares of the company’s stock, valued at $3,195,541.12. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 15,004 shares of company stock valued at $292,878. 0.99% of the stock is owned by company insiders.

Texas Capital Bancshares Stock Performance

TCBI opened at $59.70 on Friday. The company’s 50 day moving average is $59.39 and its 200 day moving average is $59.73. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.45 and a beta of 1.17. Texas Capital Bancshares, Inc. has a 12-month low of $46.54 and a 12-month high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBIGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. The business had revenue of $256.33 million for the quarter, compared to analysts’ expectations of $253.27 million. On average, equities research analysts predict that Texas Capital Bancshares, Inc. will post 3.53 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TCBI. Royal Bank of Canada dropped their target price on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. Stephens reduced their target price on Texas Capital Bancshares from $78.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Wedbush lowered their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Hovde Group reduced their price objective on Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a report on Friday, April 19th. Finally, Jefferies Financial Group decreased their target price on Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.58.

Check Out Our Latest 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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Institutional Ownership by Quarter for Texas Capital Bancshares (NASDAQ:TCBI)

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