Cim Investment Management Inc. Takes $212,000 Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Cim Investment Management Inc. bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,968 shares of the bank’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Texas Capital Bancshares in the third quarter valued at approximately $310,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Texas Capital Bancshares by 19.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank’s stock valued at $4,045,000 after purchasing an additional 9,225 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Texas Capital Bancshares by 5.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock valued at $309,000 after purchasing an additional 217 shares during the period. Geode Capital Management LLC boosted its holdings in Texas Capital Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock worth $81,856,000 after buying an additional 13,022 shares in the last quarter. Finally, M&T Bank Corp grew its position in Texas Capital Bancshares by 6.8% during the third quarter. M&T Bank Corp now owns 4,946 shares of the bank’s stock valued at $353,000 after buying an additional 316 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their target price on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Truist Financial lifted their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their price objective on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 target price on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Four research 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, the company currently has an average rating of “Hold” and an average target price of $74.69.

Insiders Place Their Bets

In other news, Director Robert W. Stallings acquired 20,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were bought at an average cost of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $85.53 on Friday. The stock has a market capitalization of $3.95 billion, a P/E ratio of 475.17, a PEG ratio of 0.82 and a beta of 1.14. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. Texas Capital Bancshares, Inc. has a fifty-two week low of $54.68 and a fifty-two week high of $91.80. The company has a 50 day moving average price of $82.25 and a 200 day moving average price of $70.17.

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