Picton Mahoney Asset Management Acquires Shares of 50,853 Texas Capital Bancshares, Inc. $TCBI

Picton Mahoney Asset Management bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 50,853 shares of the bank’s stock, valued at approximately $4,299,000. Picton Mahoney Asset Management owned about 0.11% of Texas Capital Bancshares at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TCBI. Optimize Financial Inc purchased a new stake in Texas Capital Bancshares in the 3rd quarter valued at about $441,000. Federated Hermes Inc. increased its position in shares of Texas Capital Bancshares by 153.7% during the third quarter. Federated Hermes Inc. now owns 123,900 shares of the bank’s stock worth $10,473,000 after acquiring an additional 75,061 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Texas Capital Bancshares by 15.3% during the third quarter. Thrivent Financial for Lutherans now owns 44,242 shares of the bank’s stock worth $3,740,000 after acquiring an additional 5,867 shares during the period. CWM LLC raised its stake in shares of Texas Capital Bancshares by 145.1% during the third quarter. CWM LLC now owns 21,909 shares of the bank’s stock valued at $1,852,000 after acquiring an additional 12,971 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Texas Capital Bancshares during the third quarter valued at approximately $884,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Robert W. Stallings bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average price of $22.14 per share, with a total value of $442,800.00. Following the completion of the transaction, the director directly owned 335,913 shares of the company’s stock, valued at approximately $7,437,113.82. The trade was a 6.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laura L. Whitley bought 500 shares of the stock in a transaction on Monday, January 26th. The stock was purchased at an average price of $97.51 per share, with a total value of $48,755.00. Following the completion of the purchase, the director owned 7,961 shares of the company’s stock, valued at $776,277.11. This represents a 6.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 23,000 shares of company stock worth $582,155. Insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Trading Down 0.9%

Shares of NASDAQ TCBI opened at $95.18 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $4.20 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 0.46 and a beta of 0.66. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $108.92. The business has a fifty day moving average price of $98.84 and a 200 day moving average price of $91.18.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.30. The company had revenue of $327.48 million for the quarter, compared to analyst estimates of $324.09 million. Texas Capital Bancshares had a return on equity of 10.05% and a net margin of 16.52%.During the same quarter in the previous year, the firm earned $1.43 earnings per share. Equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TCBI. Barclays increased their price objective on Texas Capital Bancshares from $90.00 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, January 23rd. TD Cowen upped their target price on Texas Capital Bancshares from $103.00 to $110.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Piper Sandler raised their price target on Texas Capital Bancshares from $86.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Zacks Research upgraded Texas Capital Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Hovde Group upped their price objective on shares of Texas Capital Bancshares from $93.00 to $102.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.17.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.