Cresset Asset Management LLC Takes Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Cresset Asset Management LLC purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the fourth quarter, Holdings Channel reports. The firm purchased 8,089 shares of the bank’s stock, valued at approximately $633,000.

A number of other large investors have also recently bought and sold shares of TCBI. Picton Mahoney Asset Management bought a new stake in Texas Capital Bancshares in the fourth quarter valued at $30,000. Assetmark Inc. bought a new stake in Texas Capital Bancshares in the fourth quarter valued at $32,000. Venturi Wealth Management LLC bought a new stake in Texas Capital Bancshares in the fourth quarter valued at $37,000. R Squared Ltd bought a new stake in Texas Capital Bancshares in the fourth quarter valued at $41,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Texas Capital Bancshares in the fourth quarter valued at $115,000. 96.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Robert W. Stallings bought 7,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $20.43 per share, with a total value of $143,010.00. Following the completion of the purchase, the director now owns 49,500 shares of the company’s stock, valued at $1,011,285. This represents a 16.47% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have bought 19,300 shares of company stock valued at $850,815 over the last 90 days. 1.72% of the stock is owned by company insiders.

Texas Capital Bancshares Trading Up 0.8%

Shares of TCBI opened at $76.02 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a 12-month low of $56.24 and a 12-month high of $91.80. The firm has a market capitalization of $3.49 billion, a PE ratio of 59.39, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. The stock’s fifty day simple moving average is $70.03 and its 200-day simple moving average is $77.33.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. The firm had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. As a group, research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Raymond James lowered their price target on Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Stephens decreased their target price on Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on Texas Capital Bancshares from $78.00 to $70.00 and set an “underweight” rating on the stock in a report on Monday, April 21st. StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Piper Sandler decreased their target price on Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $76.64.

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.