Oliver Luxxe Assets LLC Makes New Investment in Texas Capital Bancshares, Inc. $TCBI

Oliver Luxxe Assets LLC bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,573 shares of the bank’s stock, valued at approximately $1,993,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TCBI. State of Alaska Department of Revenue lifted its position in Texas Capital Bancshares by 31.8% in the third quarter. State of Alaska Department of Revenue now owns 6,797 shares of the bank’s stock valued at $573,000 after purchasing an additional 1,641 shares during the period. Peregrine Capital Management LLC acquired a new stake in shares of Texas Capital Bancshares in the 3rd quarter valued at approximately $5,186,000. SG Americas Securities LLC boosted its stake in shares of Texas Capital Bancshares by 2,461.3% in the third quarter. SG Americas Securities LLC now owns 132,934 shares of the bank’s stock valued at $11,237,000 after buying an additional 127,744 shares in the last quarter. True Wealth Design LLC grew its holdings in Texas Capital Bancshares by 106.8% during the third quarter. True Wealth Design LLC now owns 643 shares of the bank’s stock worth $54,000 after acquiring an additional 332 shares during the period. Finally, Merit Financial Group LLC purchased a new position in Texas Capital Bancshares in the third quarter worth $269,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on TCBI. Piper Sandler boosted their target price on shares of Texas Capital Bancshares from $84.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. DA Davidson reissued a “neutral” rating and set a $91.00 price objective on shares of Texas Capital Bancshares in a report on Thursday, November 20th. Zacks Research cut shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Cowen reissued a “hold” rating on shares of Texas Capital Bancshares in a research note on Wednesday. Finally, Hovde Group upped their price target on Texas Capital Bancshares from $85.00 to $93.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $91.90.

Texas Capital Bancshares Stock Down 0.3%

Shares of NASDAQ TCBI opened at $97.19 on Friday. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month high of $98.31. The company has a market capitalization of $4.44 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 0.69 and a beta of 0.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50-day moving average is $90.91 and its two-hundred day moving average is $86.85.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.41. Texas Capital Bancshares had a return on equity of 9.51% and a net margin of 15.14%.The firm had revenue of $340.35 million during the quarter, compared to the consensus estimate of $327.13 million. During the same period in the previous year, the firm posted ($1.41) EPS. The company’s quarterly revenue was up 171.6% compared to the same quarter last year. Equities analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert W. Stallings purchased 10,000 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was bought at an average cost of $20.61 per share, with a total value of $206,100.00. Following the completion of the acquisition, the director directly owned 265,913 shares in the company, valued at $5,480,466.93. The trade was a 3.91% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.