Engineers Gate Manager LP Buys Shares of 3,669 Texas Capital Bancshares, Inc. (TCBI)
Engineers Gate Manager LP bought a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,669 shares of the bank’s stock, valued at approximately $284,000.
A number of other large investors have also recently added to or reduced their stakes in TCBI. Exane Derivatives purchased a new position in shares of Texas Capital Bancshares during the 2nd quarter worth about $125,000. Canada Pension Plan Investment Board lifted its holdings in shares of Texas Capital Bancshares by 88.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock worth $142,000 after acquiring an additional 800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Texas Capital Bancshares by 46.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,770 shares of the bank’s stock worth $148,000 after acquiring an additional 563 shares during the period. Hilton Capital Management LLC purchased a new position in shares of Texas Capital Bancshares during the 2nd quarter worth about $201,000. Finally, Cipher Capital LP purchased a new position in shares of Texas Capital Bancshares during the 1st quarter worth about $220,000.
In other news, insider C Keith Cargill purchased 3,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $74.15 per share, with a total value of $222,450.00. Following the completion of the purchase, the insider now directly owns 80,286 shares of the company’s stock, valued at approximately $5,953,206.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by insiders.
Several brokerages have recently weighed in on TCBI. BidaskClub lowered shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. ValuEngine raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Hovde Group increased their target price on shares of Texas Capital Bancshares from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. Finally, Stephens reissued a “hold” rating and set a $84.00 target price on shares of Texas Capital Bancshares in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $86.86.
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Shares of Texas Capital Bancshares, Inc. (NASDAQ TCBI) opened at 79.95 on Tuesday. The company’s 50 day moving average is $75.47 and its 200-day moving average is $78.05. Texas Capital Bancshares, Inc. has a 52 week low of $51.69 and a 52 week high of $93.35. The company has a market capitalization of $3.97 billion, a PE ratio of 22.19 and a beta of 1.67.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $201.73 million for the quarter, compared to analyst estimates of $197.10 million. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, analysts expect that Texas Capital Bancshares, Inc. will post $4.01 EPS for the current fiscal year.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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