Occudo Quantitative Strategies LP Buys Shares of 10,020 Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Occudo Quantitative Strategies LP purchased a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,020 shares of the bank’s stock, valued at approximately $784,000.

Other hedge funds have also recently made changes to their positions in the company. Amalgamated Bank grew its position in Texas Capital Bancshares by 0.8% in the 4th quarter. Amalgamated Bank now owns 20,791 shares of the bank’s stock worth $1,626,000 after purchasing an additional 166 shares during the period. Xponance Inc. boosted its stake in shares of Texas Capital Bancshares by 4.8% in the 4th quarter. Xponance Inc. now owns 6,569 shares of the bank’s stock worth $514,000 after buying an additional 300 shares during the last quarter. Savant Capital LLC grew its holdings in shares of Texas Capital Bancshares by 5.7% in the fourth quarter. Savant Capital LLC now owns 5,604 shares of the bank’s stock worth $438,000 after acquiring an additional 303 shares during the period. Beacon Pointe Advisors LLC increased its position in Texas Capital Bancshares by 1.9% during the fourth quarter. Beacon Pointe Advisors LLC now owns 18,825 shares of the bank’s stock valued at $1,472,000 after acquiring an additional 350 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Texas Capital Bancshares in the fourth quarter valued at about $30,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robert W. Stallings bought 500 shares of the company’s stock in a transaction on Wednesday, April 23rd. The shares were acquired at an average cost of $68.20 per share, for a total transaction of $34,100.00. Following the purchase, the director now directly owns 289,961 shares of the company’s stock, valued at approximately $19,775,340.20. The trade was a 0.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have acquired 19,300 shares of company stock valued at $850,815. 1.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TCBI shares. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Hovde Group reduced their target price on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a “market perform” rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their price target on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an “underweight” rating on the stock in a research report on Monday, April 21st. Piper Sandler dropped their price target on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Finally, Raymond James reduced their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.64.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $76.02 on Wednesday. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 59.39, a PEG ratio of 0.75 and a beta of 0.62. 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 has a 50 day simple moving average of $70.03 and a 200-day simple moving average of $77.33. Texas Capital Bancshares, Inc. has a 1 year low of $56.24 and a 1 year high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.07). Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. The firm had revenue of $280.48 million for the quarter, compared to analysts’ expectations of $284.40 million. Equities analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Texas Capital Bancshares Company 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.