Assetmark Inc. Purchases Shares of 409 Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Assetmark Inc. purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 409 shares of the bank’s stock, valued at approximately $32,000.

Other hedge funds have also recently bought and sold shares of the company. Icon Wealth Advisors LLC bought a new position in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $31,000. Venturi Wealth Management LLC bought a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $37,000. R Squared Ltd bought a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $41,000. Meeder Asset Management Inc. bought a new position in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $71,000. Finally, KBC Group NV boosted its stake in shares of Texas Capital Bancshares by 64.2% during the 4th quarter. KBC Group NV now owns 2,172 shares of the bank’s stock worth $170,000 after acquiring an additional 849 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 2,006 shares of Texas Capital Bancshares stock in a transaction on Monday, January 27th. The shares were purchased at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the transaction, the director now owns 182,899 shares of the company’s stock, valued at approximately $3,839,050.01. This represents a 1.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have purchased 29,402 shares of company stock worth $653,787. Insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TCBI. JPMorgan Chase & Co. reduced their price target on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. DA Davidson reduced their price target on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $95.00 price target (down from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. Finally, Stephens reduced their price target on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. 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 data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus price target of $79.47.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $74.65 on Monday. Texas Capital Bancshares, Inc. has a 12-month low of $54.68 and a 12-month high of $91.80. The business has a 50-day simple moving average of $78.29 and a two-hundred day simple moving average of $78.12. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.44 billion, a PE ratio of 58.32, a PEG ratio of 0.75 and a beta of 1.13.

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

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.