Creative Planning Acquires New Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Creative Planning purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,164 shares of the bank's stock, valued at approximately $440,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in Texas Capital Bancshares by 73.0% in the 1st quarter. BNP Paribas Financial Markets now owns 25,489 shares of the bank's stock valued at $1,569,000 after purchasing an additional 10,752 shares during the last quarter. SG Americas Securities LLC increased its holdings in Texas Capital Bancshares by 40.4% in the 1st quarter. SG Americas Securities LLC now owns 3,932 shares of the bank's stock valued at $242,000 after purchasing an additional 1,131 shares during the last quarter. Tectonic Advisors LLC increased its holdings in Texas Capital Bancshares by 15.2% in the 1st quarter. Tectonic Advisors LLC now owns 21,110 shares of the bank's stock valued at $1,299,000 after purchasing an additional 2,783 shares during the last quarter. Headlands Technologies LLC increased its holdings in Texas Capital Bancshares by 80.4% in the 1st quarter. Headlands Technologies LLC now owns 2,910 shares of the bank's stock valued at $179,000 after purchasing an additional 1,297 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in Texas Capital Bancshares by 3.3% in the 1st quarter. ProShare Advisors LLC now owns 10,804 shares of the bank's stock valued at $665,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 20,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average cost of $21.28 per share, with a total value of $425,600.00. Following the completion of the transaction, the director now directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on TCBI. Bank of America upgraded shares of Texas Capital Bancshares from an "underperform" rating to a "buy" rating and lifted their target price for the company from $51.00 to $77.00 in a report on Monday, September 9th. Royal Bank of Canada raised their price target on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a "sector perform" rating in a research report on Friday, October 18th. Piper Sandler cut shares of Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and raised their price target for the company from $77.00 to $82.00 in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, October 18th. Finally, Citigroup reissued a "sell" rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Texas Capital Bancshares currently has an average rating of "Hold" and an average target price of $74.00.

Texas Capital Bancshares Stock Performance

TCBI traded down $2.51 on Thursday, reaching $82.97. The company had a trading volume of 730,478 shares, compared to its average volume of 428,432. Texas Capital Bancshares, Inc. has a 1 year low of $53.16 and a 1 year high of $86.00. The stock has a market capitalization of $3.83 billion, a PE ratio of 474.89, a P/E/G ratio of 0.72 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $72.99 and a 200-day moving average price of $65.34.

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.