Rafferty Asset Management LLC Acquires 14,156 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Rafferty Asset Management LLC raised its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 19.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,175 shares of the bank’s stock after buying an additional 14,156 shares during the period. Rafferty Asset Management LLC owned about 0.19% of Texas Capital Bancshares worth $6,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at about $30,000. Assetmark Inc. purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at about $32,000. Venturi Wealth Management LLC purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at about $37,000. R Squared Ltd purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at about $41,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at about $115,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Price Performance

TCBI opened at $75.83 on Friday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 59.24, a PEG ratio of 0.75 and a beta of 0.62. 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 firm has a 50-day moving average price of $70.27 and a 200-day moving average price of $77.30. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $91.80.

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

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 500 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was bought at an average cost of $68.20 per share, for a total transaction of $34,100.00. Following the completion of the transaction, the director now owns 289,961 shares of the company’s stock, valued at $19,775,340.20. The trade was a 0.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 19,300 shares of company stock worth $850,815 over the last quarter. Corporate insiders own 1.72% of the company’s stock.

Wall Street Analyst Weigh In

TCBI has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating for the company in a report on Monday, April 21st. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an “underweight” rating for the company in a report on Monday, April 21st. Hovde Group decreased their price objective on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Finally, Raymond James decreased their price objective on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $76.64.

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.