Pallas Capital Advisors LLC Buys New Shares in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Pallas Capital Advisors LLC bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,823 shares of the bank’s stock, valued at approximately $286,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Texas Capital Bancshares by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank’s stock valued at $367,327,000 after purchasing an additional 20,245 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Texas Capital Bancshares by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,305,685 shares of the bank’s stock valued at $258,505,000 after acquiring an additional 28,282 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Texas Capital Bancshares by 22.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank’s stock worth $58,246,000 after purchasing an additional 138,734 shares during the period. Northern Trust Corp grew its position in shares of Texas Capital Bancshares by 12.0% in the 4th quarter. Northern Trust Corp now owns 660,478 shares of the bank’s stock worth $51,649,000 after buying an additional 70,804 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Texas Capital Bancshares by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 627,890 shares of the bank’s stock valued at $49,101,000 after acquiring an additional 15,320 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analyst Ratings Changes

TCBI has been the subject of several recent research reports. Barclays lowered their price objective on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Hovde Group dropped their price objective on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st. DA Davidson decreased their target price on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their price target on Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Finally, Jefferies Financial Group set a $80.00 price objective on shares of Texas Capital Bancshares and gave the company a “hold” rating in a research report on Wednesday, May 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $78.00.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 500 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were purchased at an average cost of $68.20 per share, with a total value of $34,100.00. Following the purchase, the director now directly owns 289,961 shares in the company, valued at approximately $19,775,340.20. This represents a 0.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have purchased 19,300 shares of company stock worth $846,265. 1.72% of the stock is currently owned by insiders.

Texas Capital Bancshares Trading Down 1.7%

TCBI opened at $75.36 on Friday. Texas Capital Bancshares, Inc. has a 1-year low of $56.24 and a 1-year high of $91.80. 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 capitalization of $3.46 billion, a price-to-earnings ratio of 58.88, a price-to-earnings-growth ratio of 0.75 and a beta of 0.65. The company’s 50 day simple moving average is $70.66 and its two-hundred day simple moving average is $75.85.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). The business had revenue of $280.48 million for the quarter, compared to analysts’ expectations of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. Analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

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.