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

Norges Bank purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 537,729 shares of the bank’s stock, valued at approximately $42,050,000. Norges Bank owned approximately 1.16% of Texas Capital Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TCBI. Picton Mahoney Asset Management acquired a new position in Texas Capital Bancshares in the 4th quarter valued at about $30,000. Assetmark Inc. acquired a new position in Texas Capital Bancshares in the 4th quarter valued at $32,000. Venturi Wealth Management LLC bought a new position in Texas Capital Bancshares during the 4th quarter worth $37,000. R Squared Ltd bought a new position in Texas Capital Bancshares during the 4th quarter worth $41,000. Finally, KBC Group NV lifted its holdings in shares of Texas Capital Bancshares by 64.2% during the fourth quarter. KBC Group NV now owns 2,172 shares of the bank’s stock worth $170,000 after buying an additional 849 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TCBI shares. Stephens dropped their price target on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lowered their price objective on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. DA Davidson cut their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $95.00 price target (down previously from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Finally, Hovde Group cut their price objective on shares of Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.43.

Insider Buying and Selling

In other news, Director Robert W. Stallings bought 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $20.43 per share, for a total transaction of $143,010.00. Following the acquisition, the director now directly owns 49,500 shares in the company, valued at approximately $1,011,285. This trade represents a 16.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 29,402 shares of company stock valued at $653,787 in the last three months. Insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $64.50 on Friday. The stock’s 50-day moving average is $77.21 and its 200-day moving average is $78.67. Texas Capital Bancshares, Inc. has a 1-year low of $54.68 and a 1-year high of $91.80. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.98 billion, a P/E ratio of 50.39, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. Equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Texas Capital Bancshares Company 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.