Pictet Asset Management Holding SA Acquires 613 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Pictet Asset Management Holding SA lifted its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,547 shares of the bank’s stock after purchasing an additional 613 shares during the period. Pictet Asset Management Holding SA’s holdings in Texas Capital Bancshares were worth $512,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of TCBI. Norges Bank acquired a new position in Texas Capital Bancshares during the 4th quarter worth about $42,050,000. Wellington Management Group LLP raised 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 acquiring an additional 150,301 shares during the last quarter. JPMorgan Chase & Co. increased its position in Texas Capital Bancshares by 75.5% during the 4th quarter. JPMorgan Chase & Co. now owns 317,292 shares of the bank’s stock valued at $24,812,000 after purchasing an additional 136,507 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Texas Capital Bancshares during the fourth quarter valued at $8,080,000. Finally, Prudential Financial Inc. lifted its position in shares of Texas Capital Bancshares by 104.5% during the 4th quarter. Prudential Financial Inc. now owns 155,135 shares of the bank’s stock valued at $12,132,000 after acquiring an additional 79,290 shares during the period. Institutional investors own 96.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TCBI. Barclays reduced their price objective on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating for the company in a report on Tuesday. DA Davidson decreased their price objective on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Stephens lowered their price objective 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $95.00 target price (down previously from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Finally, Hovde Group decreased their price target on 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.36.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $62.07 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $76.25 and its 200 day simple moving average is $78.50. Texas Capital Bancshares, Inc. has a 12 month low of $54.68 and a 12 month high of $91.80. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 48.49, a PEG ratio of 0.75 and a beta of 0.74.

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%. Sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 5,670 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was purchased at an average cost of $27.60 per share, with a total value of $156,492.00. Following the completion of the acquisition, the director now directly 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 29,402 shares of company stock worth $653,787 over the last quarter. Corporate insiders own 1.72% of the company’s stock.

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.