Tectonic Advisors LLC Increases Stock Holdings in Texas Capital Bancshares, Inc. $TCBI

Tectonic Advisors LLC increased its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 32,668 shares of the bank’s stock after purchasing an additional 293 shares during the period. Tectonic Advisors LLC’s holdings in Texas Capital Bancshares were worth $2,594,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TCBI. GAMMA Investing LLC grew its stake in Texas Capital Bancshares by 16,860.7% during the 1st quarter. GAMMA Investing LLC now owns 62,076 shares of the bank’s stock worth $4,637,000 after buying an additional 61,710 shares during the last quarter. Merit Financial Group LLC purchased a new position in Texas Capital Bancshares during the 1st quarter worth $270,000. UMB Bank n.a. grew its stake in Texas Capital Bancshares by 1,089.8% during the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank’s stock valued at $44,000 after purchasing an additional 534 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in Texas Capital Bancshares during the 1st quarter valued at about $286,000. Finally, SG Americas Securities LLC purchased a new stake in Texas Capital Bancshares during the 1st quarter valued at about $16,938,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on TCBI. Cowen began coverage on Texas Capital Bancshares in a research note on Wednesday, September 24th. They set a “hold” rating on the stock. TD Cowen upgraded Texas Capital Bancshares to a “hold” rating in a research note on Thursday, September 25th. Citigroup boosted their price target on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Finally, Barclays set a $85.00 price target on Texas Capital Bancshares and gave the company an “underweight” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.23.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $86.25 on Thursday. The stock has a market cap of $3.95 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 0.71 and a beta of 0.67. The business has a 50-day simple moving average of $84.98 and a 200-day simple moving average of $78.58. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. Texas Capital Bancshares, Inc. has a 52-week low of $59.37 and a 52-week high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.35. The business had revenue of $307.46 million during the quarter, compared to analysts’ expectations of $298.90 million. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.During the same quarter in the previous year, the firm posted $0.80 EPS. On average, equities analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

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.