Prudential Financial Inc. Has $12.13 Million Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Prudential Financial Inc. grew its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 104.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 155,135 shares of the bank’s stock after acquiring an additional 79,290 shares during the quarter. Prudential Financial Inc.’s holdings in Texas Capital Bancshares were worth $12,132,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Texas Capital Bancshares by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank’s stock worth $367,327,000 after acquiring an additional 20,245 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 worth $81,856,000 after purchasing an additional 13,022 shares during the period. Wellington Management Group LLP boosted its position in shares of Texas Capital Bancshares by 15.4% during the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock worth $80,265,000 after purchasing an additional 150,301 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Texas Capital Bancshares by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 627,890 shares of the bank’s stock valued at $49,101,000 after buying an additional 15,320 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Texas Capital Bancshares by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 572,539 shares of the bank’s stock worth $44,773,000 after buying an additional 1,700 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $73.79 on Friday. Texas Capital Bancshares, Inc. has a 52-week low of $54.68 and a 52-week high of $91.80. The company has a market cap of $3.40 billion, a P/E ratio of 57.65, a P/E/G ratio of 0.75 and a beta of 1.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $78.06 and its 200 day simple moving average is $78.61.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. As a group, sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Barclays boosted their price objective on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. dropped their target price on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a report on Friday, January 24th. Hovde Group reduced their price target on shares of Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a report on Friday, March 7th. Finally, DA Davidson dropped their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Three equities 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 has an average rating of “Hold” and an average price target of $79.47.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 2,006 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, January 27th. The stock was acquired at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the completion of the acquisition, the director now owns 182,899 shares of the company’s stock, valued at approximately $3,839,050.01. This trade represents a 1.11 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have bought 29,402 shares of company stock valued at $653,787. 1.72% of the stock is currently owned by corporate insiders.

Texas Capital Bancshares 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.