Raymond James Financial Inc. Takes Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Raymond James Financial Inc. bought a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 4th quarter, HoldingsChannel reports. The fund bought 10,021 shares of the bank’s stock, valued at approximately $784,000.

A number of other hedge funds also recently made changes to their positions in the business. Amalgamated Bank lifted its position in shares of Texas Capital Bancshares by 0.8% during the 4th quarter. Amalgamated Bank now owns 20,791 shares of the bank’s stock valued at $1,626,000 after buying an additional 166 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in Texas Capital Bancshares by 5.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock worth $309,000 after purchasing an additional 217 shares in the last quarter. Savant Capital LLC grew its stake in Texas Capital Bancshares by 5.7% during the fourth quarter. Savant Capital LLC now owns 5,604 shares of the bank’s stock valued at $438,000 after acquiring an additional 303 shares in the last quarter. M&T Bank Corp raised its position in shares of Texas Capital Bancshares by 6.8% during the 3rd quarter. M&T Bank Corp now owns 4,946 shares of the bank’s stock valued at $353,000 after buying an additional 316 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Texas Capital Bancshares by 3.8% during the 3rd quarter. Captrust Financial Advisors now owns 10,036 shares of the bank’s stock valued at $717,000 after purchasing an additional 369 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Robert W. Stallings purchased 5,670 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average cost of $27.60 per share, with a total value of $156,492.00. Following the transaction, the director now owns 180,893 shares of the company’s stock, valued at approximately $4,992,646.80. The trade was a 3.24 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have bought 29,402 shares of company stock worth $653,787. 1.72% of the stock is owned by insiders.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $64.50 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. The business’s fifty day moving average price is $77.21 and its 200 day moving average price is $78.72. The firm has a market capitalization of $2.98 billion, a PE ratio of 50.39, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74. Texas Capital Bancshares, Inc. has a 12 month low of $54.68 and a 12 month high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. On average, sell-side analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on TCBI. Hovde Group dropped their price target on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a research note on Friday, March 7th. Stephens dropped their price target on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lowered their price target on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a report on Friday, January 24th. 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. Finally, StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.43.

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.