Principal Financial Group Inc. raised its stake in Texas Capital Bancshares Inc. (NASDAQ:TCBI) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 329,257 shares of the company’s stock after buying an additional 8,543 shares during the period. Principal Financial Group Inc. owned 0.72% of Texas Capital Bancshares worth $15,396,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in Texas Capital Bancshares by 97.3% in the first quarter. BlackRock Inc. now owns 3,097 shares of the company’s stock valued at $118,000 after buying an additional 1,527 shares in the last quarter. Quantbot Technologies LP acquired a new position in Texas Capital Bancshares during the second quarter valued at $149,000. Strs Ohio increased its position in Texas Capital Bancshares by 400.0% in the second quarter. Strs Ohio now owns 4,000 shares of the company’s stock valued at $187,000 after buying an additional 3,200 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Texas Capital Bancshares during the second quarter valued at $205,000. Finally, Suntrust Banks Inc. acquired a new position in Texas Capital Bancshares during the second quarter valued at $230,000.
Shares of Texas Capital Bancshares Inc. (NASDAQ:TCBI) traded down 2.14% on Friday, hitting $56.24. 38,225 shares of the company were exchanged. Texas Capital Bancshares Inc. has a 52-week low of $29.78 and a 52-week high of $61.83. The firm has a market cap of $2.58 billion, a P/E ratio of 20.75 and a beta of 1.47. The company has a 50-day moving average price of $52.85 and a 200 day moving average price of $47.35.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Texas Capital Bancshares had a net margin of 19.73% and a return on equity of 9.14%. During the same quarter in the previous year, the company posted $0.76 EPS. Analysts predict that Texas Capital Bancshares Inc. will post $2.99 EPS for the current fiscal year.
Several equities analysts have recently weighed in on TCBI shares. TheStreet raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, June 23rd. Deutsche Bank AG reaffirmed a “buy” rating and set a $53.00 target price on shares of Texas Capital Bancshares in a research note on Friday, June 17th. Compass Point began coverage on shares of Texas Capital Bancshares in a research note on Friday, July 1st. They set a “buy” rating and a $54.00 target price on the stock. Zacks Investment Research raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. Finally, Bank of America Corp. downgraded shares of Texas Capital Bancshares from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $51.00.
In other Texas Capital Bancshares news, Director James H. Browning sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $52.55, for a total transaction of $131,375.00. Following the sale, the director now directly owns 8,314 shares of the company’s stock, valued at approximately $436,900.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.08% of the company’s stock.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loans, deposit accounts and other financial products and services. It offers commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; real estate term and construction loans; mortgage finance lending; equipment leasing; treasury management services; wealth management and trust services, and letters of credit.
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