Rafferty Asset Management LLC Purchases 14,156 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Rafferty Asset Management LLC increased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,175 shares of the bank’s stock after acquiring an additional 14,156 shares during the quarter. Rafferty Asset Management LLC’s holdings in Texas Capital Bancshares were worth $6,895,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Texas Capital Bancshares by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank’s stock valued at $367,327,000 after acquiring an additional 20,245 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Texas Capital Bancshares by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,305,685 shares of the bank’s stock valued at $258,505,000 after purchasing an additional 28,282 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Texas Capital Bancshares by 22.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank’s stock valued at $58,246,000 after purchasing an additional 138,734 shares during the last quarter. Northern Trust Corp lifted its position in Texas Capital Bancshares by 12.0% during the fourth quarter. Northern Trust Corp now owns 660,478 shares of the bank’s stock valued at $51,649,000 after purchasing an additional 70,804 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its position in Texas Capital Bancshares by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 627,890 shares of the bank’s stock valued at $49,101,000 after purchasing an additional 15,320 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Stock Down 1.1%

Shares of NASDAQ TCBI opened at $75.83 on Friday. 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 52 week low of $56.24 and a 52 week high of $91.80. The firm’s fifty day moving average is $70.27 and its 200 day moving average is $77.30. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 59.24, a PEG ratio of 0.75 and a beta of 0.62.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $284.40 million. On average, equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TCBI shares. Stephens dropped their target price on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. DA Davidson dropped their target price on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Hovde Group dropped 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 research report on Monday, April 21st. JPMorgan Chase & Co. dropped their target price on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an “underweight” rating for the company in a research report on Monday, April 21st. Finally, Raymond James lowered their price objective on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.64.

Insider Buying and Selling

In related news, Director Robert W. Stallings acquired 7,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $20.43 per share, with a total value of $143,010.00. Following the transaction, the director now owns 49,500 shares in the company, valued at $1,011,285. This trade represents a 16.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 19,300 shares of company stock valued at $850,815 over the last three months. 1.72% of the stock is owned by company insiders.

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.