Edgestream Partners L.P. Takes Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Edgestream Partners L.P. purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,880 shares of the bank’s stock, valued at approximately $2,921,000. Edgestream Partners L.P. owned about 0.09% of Texas Capital Bancshares at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Verition Fund Management LLC purchased a new position in shares of Texas Capital Bancshares during the third quarter valued at approximately $530,000. Captrust Financial Advisors lifted its stake in shares of Texas Capital Bancshares by 3.8% during the third quarter. Captrust Financial Advisors now owns 10,036 shares of the bank’s stock valued at $717,000 after buying an additional 369 shares during the period. Icon Wealth Advisors LLC purchased a new position in shares of Texas Capital Bancshares during the third quarter valued at approximately $103,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Texas Capital Bancshares during the third quarter valued at approximately $1,222,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of Texas Capital Bancshares during the third quarter valued at approximately $215,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on TCBI. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 price target on shares of Texas Capital Bancshares in a research note on Monday, September 9th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Barclays increased their price target on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. DA Davidson increased their price target on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.00.

Texas Capital Bancshares Price Performance

TCBI opened at $88.45 on Monday. The company has a fifty day simple moving average of $79.30 and a 200 day simple moving average of $68.58. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 491.39, a PEG ratio of 0.84 and a beta of 1.12. Texas Capital Bancshares, Inc. has a twelve month low of $53.69 and a twelve month high of $91.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22.

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

Insiders Place Their Bets

In related news, Director Robert W. Stallings acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was bought at an average cost of $21.28 per share, with a total value of $425,600.00. Following the acquisition, the director now directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.99% of the stock is owned by company insiders.

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.