Edgestream Partners L.P. Makes New $2.92 Million Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Edgestream Partners L.P. acquired a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,880 shares of the bank's stock, valued at approximately $2,921,000. Edgestream Partners L.P. owned approximately 0.09% of Texas Capital Bancshares as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TCBI. Innealta Capital LLC purchased a new position in shares of Texas Capital Bancshares during the 2nd quarter valued at $26,000. Blue Trust Inc. raised its holdings in shares of Texas Capital Bancshares by 89.9% during the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank's stock valued at $26,000 after buying an additional 169 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of Texas Capital Bancshares in the 3rd quarter worth approximately $31,000. CWM LLC boosted its position in Texas Capital Bancshares by 40.8% during the second quarter. CWM LLC now owns 949 shares of the bank's stock valued at $58,000 after buying an additional 275 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Texas Capital Bancshares in the 3rd quarter valued at about $71,000. Institutional investors own 96.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TCBI shares. Raymond James upgraded Texas Capital Bancshares from a "market perform" rating to an "outperform" rating and set a $78.00 target price for the company in a research note on Tuesday, September 17th. Barclays boosted their price objective on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an "underweight" rating in a report on Friday, October 18th. DA Davidson boosted their target price on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Hovde Group boosted their price objective on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of "Hold" and a consensus price target of $74.00.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI traded up $0.19 during trading hours on Monday, reaching $88.64. 272,122 shares of the company's stock were exchanged, compared to its average volume of 429,950. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 490.17, a P/E/G ratio of 0.84 and a beta of 1.12. The company has a 50-day moving average of $79.30 and a 200 day moving average of $68.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a 1-year low of $54.68 and a 1-year high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, beating the consensus estimate of $0.97 by $0.65. The firm had revenue of $304.91 million during the quarter, compared to analysts' expectations of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. Research analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 20,000 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average price of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the purchase, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.99% of the stock is currently owned by corporate insiders.

Texas Capital Bancshares 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.