Cim Investment Management Inc. Purchases Shares of 2,968 Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Cim Investment Management Inc. acquired a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,968 shares of the bank’s stock, valued at approximately $212,000.

Several other large investors have also modified their holdings of TCBI. Geode Capital Management LLC lifted its stake in Texas Capital Bancshares by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock valued at $81,856,000 after buying an additional 13,022 shares during the last quarter. Wellington Management Group LLP raised its position in Texas Capital Bancshares by 15.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after purchasing an additional 150,301 shares during the last quarter. AQR Capital Management LLC boosted its stake in Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after purchasing an additional 506,094 shares during the period. Charles Schwab Investment Management Inc. grew its position in Texas Capital Bancshares by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock worth $40,792,000 after purchasing an additional 10,171 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Texas Capital Bancshares by 43.8% in the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after purchasing an additional 171,263 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Buying and Selling at Texas Capital Bancshares

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

Texas Capital Bancshares Stock Down 1.3 %

TCBI opened at $85.53 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 475.17, a PEG ratio of 0.82 and a beta of 1.14. Texas Capital Bancshares, Inc. has a one year low of $54.68 and a one year high of $91.80. The business’s fifty day moving average is $82.25 and its two-hundred day moving average is $70.17.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $279.64 million. Analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TCBI has been the topic of a number of research reports. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Barclays lifted their target price on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Hovde Group increased their price target on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. 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. Finally, Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.69.

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.