Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Acquired by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC increased its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 1.4% during the fourth quarter, Holdings Channel reports. The fund owned 13,134 shares of the bank’s stock after acquiring an additional 175 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Texas Capital Bancshares were worth $849,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Texas Capital Bancshares by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,820,025 shares of the bank’s stock valued at $283,899,000 after acquiring an additional 25,113 shares during the period. North Reef Capital Management LP raised its holdings in shares of Texas Capital Bancshares by 99.2% during the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock valued at $85,405,000 after acquiring an additional 722,250 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Texas Capital Bancshares by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 1,291,087 shares of the bank’s stock valued at $76,045,000 after acquiring an additional 4,210 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Texas Capital Bancshares by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 663,768 shares of the bank’s stock valued at $39,096,000 after acquiring an additional 3,641 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Texas Capital Bancshares by 78.0% during the third quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock valued at $32,937,000 after acquiring an additional 245,074 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Up 0.9 %

Shares of TCBI traded up $0.53 during mid-day trading on Monday, hitting $58.34. 38,209 shares of the company’s stock were exchanged, compared to its average volume of 460,683. The firm has a fifty day moving average of $58.94 and a two-hundred day moving average of $59.05. Texas Capital Bancshares, Inc. has a twelve month low of $42.79 and a twelve month high of $66.18. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 2.07 and a beta of 1.19. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

Analyst Upgrades and Downgrades

TCBI has been the topic of a number of recent analyst reports. Hovde Group cut their price target on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a report on Friday, April 19th. Truist Financial dropped their price objective on shares of Texas Capital Bancshares from $66.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Barclays began coverage on shares of Texas Capital Bancshares in a research note on Friday, March 8th. They issued an “underweight” rating and a $47.00 price objective on the stock. Citigroup dropped their price objective on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.58.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 4,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were bought at an average price of $19.93 per share, for a total transaction of $79,720.00. Following the purchase, the director now directly owns 131,706 shares in the company, valued at approximately $2,624,900.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert W. Stallings acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was acquired at an average cost of $18.81 per share, with a total value of $94,050.00. Following the acquisition, the director now owns 140,706 shares in the company, valued at $2,646,679.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Stallings acquired 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were purchased at an average cost of $19.93 per share, with a total value of $79,720.00. Following the completion of the acquisition, the director now owns 131,706 shares in the company, valued at approximately $2,624,900.58. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,000 shares of company stock worth $403,170 in the last 90 days. 1.53% of the stock is owned by insiders.

About Texas Capital Bancshares

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.