Edgestream Partners L.P. Invests $2.92 Million in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Edgestream Partners L.P. purchased a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the third quarter, HoldingsChannel.com reports. The fund purchased 40,880 shares of the bank’s stock, valued at approximately $2,921,000.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after buying an additional 169 shares during the last quarter. Innealta Capital LLC bought a new stake in Texas Capital Bancshares in the 2nd quarter valued at about $26,000. Icon Wealth Advisors LLC bought a new stake in Texas Capital Bancshares in the 3rd quarter valued at about $31,000. CWM LLC lifted its position in Texas Capital Bancshares by 40.8% in the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after purchasing an additional 275 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Texas Capital Bancshares in the 3rd quarter valued at about $71,000. 96.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TCBI has been the topic of several recent research reports. Hovde Group lifted their price objective on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Truist Financial boosted their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a research note on Tuesday, September 17th. Wedbush reissued a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Finally, DA Davidson lifted their target price on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.00.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock opened at $88.45 on Monday. The firm has a fifty day simple moving average of $79.30 and a 200-day simple moving average of $68.58. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a 1-year low of $53.69 and a 1-year high of $91.80. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 491.39, a PEG ratio of 0.84 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The business had revenue of $304.91 million during the quarter, compared to analysts’ expectations of $279.64 million. On average, sell-side analysts expect that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert W. Stallings bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the transaction, the director now owns 84,587 shares of the company’s stock, valued at $1,800,011.36. The trade was a 30.97 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.99% of the stock is currently owned by insiders.

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.