Cresset Asset Management LLC Takes $633,000 Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Cresset Asset Management LLC purchased a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 8,089 shares of the bank’s stock, valued at approximately $633,000.

Several other institutional investors have also made changes to their positions in TCBI. Picton Mahoney Asset Management acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at about $30,000. Assetmark Inc. acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at about $32,000. Venturi Wealth Management LLC acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at about $37,000. R Squared Ltd acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at about $41,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at about $115,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TCBI shares. DA Davidson reduced their price target on Texas Capital Bancshares from $81.00 to $76.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Raymond James cut their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Stephens cut their price objective on Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, Piper Sandler cut their price objective on Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $76.64.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $76.02 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $70.03 and its two-hundred day moving average is $77.33. The company has a market cap of $3.49 billion, a P/E ratio of 59.39, a P/E/G ratio of 0.75 and a beta of 0.62. Texas Capital Bancshares, Inc. has a 12 month low of $56.24 and a 12 month high of $91.80.

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

Insider Activity

In other news, Director Robert W. Stallings acquired 7,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $20.43 per share, for a total transaction of $143,010.00. Following the completion of the transaction, the director now owns 49,500 shares in the company, valued at approximately $1,011,285. This trade represents a 16.47% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have bought 19,300 shares of company stock worth $850,815. Company insiders own 1.72% of the company’s stock.

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.