6,692 Shares in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Acquired by Dark Forest Capital Management LP

Dark Forest Capital Management LP bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the fourth quarter, HoldingsChannel.com reports. The fund bought 6,692 shares of the bank’s stock, valued at approximately $523,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new stake in Texas Capital Bancshares during the fourth quarter valued at approximately $30,000. Assetmark Inc. bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at $32,000. Venturi Wealth Management LLC purchased a new stake in shares of Texas Capital Bancshares in the 4th quarter worth $37,000. R Squared Ltd bought a new position in Texas Capital Bancshares in the 4th quarter worth $41,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Texas Capital Bancshares during the fourth quarter valued at $115,000. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $67.89 on Friday. The company has a market capitalization of $3.12 billion, a P/E ratio of 53.04, a P/E/G ratio of 0.75 and a beta of 0.74. The business’s 50-day moving average is $71.75 and its 200 day moving average is $77.86. The company has a current ratio of 1.00, a quick 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.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $280.48 million during the quarter, compared to analysts’ expectations of $284.40 million. On average, equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were bought at an average price of $68.20 per share, for a total transaction of $34,100.00. Following the acquisition, the director now owns 289,961 shares of the company’s stock, valued at approximately $19,775,340.20. This represents a 0.17 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 28,732 shares of company stock worth $820,610 in the last three months. Insiders own 1.72% of the company’s stock.

Wall Street Analyst Weigh In

TCBI has been the topic of several recent research reports. DA Davidson decreased their price objective on Texas Capital Bancshares from $81.00 to $76.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an “underweight” rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their price target on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Stephens decreased their price objective on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Finally, Piper Sandler dropped their target price on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $76.64.

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.