Louisiana State Employees Retirement System Makes New $873,000 Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Louisiana State Employees Retirement System purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,500 shares of the bank’s stock, valued at approximately $873,000.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted 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 worth $32,937,000 after purchasing an additional 245,074 shares during the period. Walleye Capital LLC lifted its holdings in shares of Texas Capital Bancshares by 63.9% during the third quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock worth $10,267,000 after purchasing an additional 67,964 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Texas Capital Bancshares by 131.9% during the third quarter. New York State Common Retirement Fund now owns 150,829 shares of the bank’s stock worth $8,884,000 after purchasing an additional 85,793 shares during the period. First Dallas Securities Inc. acquired a new position in shares of Texas Capital Bancshares during the third quarter worth $1,178,000. Finally, North Reef Capital Management LP lifted 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 worth $85,405,000 after purchasing an additional 722,250 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Thomas E. Long bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $58.78 per share, with a total value of $117,560.00. Following the completion of the transaction, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert W. Stallings acquired 4,000 shares of Texas Capital Bancshares stock in a transaction on Wednesday, January 31st. The stock was acquired at an average cost of $19.93 per share, with a total value of $79,720.00. Following the transaction, the director now owns 131,706 shares of the company’s stock, valued at approximately $2,624,900.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Long acquired 2,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, with a total value of $117,560.00. Following the completion of the transaction, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The disclosure for this purchase can be found here. Insiders acquired a total of 18,000 shares of company stock valued at $422,650 over the last three months. Corporate insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Trading Down 2.5 %

NASDAQ:TCBI opened at $58.61 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average of $58.97 and a 200-day moving average of $59.05. The company has a market cap of $2.73 billion, a PE ratio of 17.76, a PEG ratio of 2.11 and a beta of 1.19. Texas Capital Bancshares, Inc. has a one year low of $42.79 and a one year high of $66.18.

Wall Street Analysts Forecast Growth

TCBI has been the topic of several recent analyst reports. Royal Bank of Canada dropped their target price on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Citigroup dropped their target price on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Raymond James lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods dropped their target price on shares of Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Barclays initiated coverage on shares of Texas Capital Bancshares in a report on Friday, March 8th. They issued an “underweight” rating and a $47.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.58.

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.