ExodusPoint Capital Management LP Makes New Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

ExodusPoint Capital Management LP bought a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 77,643 shares of the bank's stock, valued at approximately $6,072,000. ExodusPoint Capital Management LP owned about 0.17% of Texas Capital Bancshares as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TCBI. Bryce Point Capital LLC bought a new stake in Texas Capital Bancshares during the fourth quarter valued at about $1,257,000. Massachusetts Financial Services Co. MA increased its position in shares of 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 worth $58,246,000 after purchasing an additional 138,734 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Texas Capital Bancshares by 300.1% in the 4th quarter. Meeder Asset Management Inc. now owns 3,961 shares of the bank's stock worth $310,000 after purchasing an additional 2,971 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Texas Capital Bancshares by 10.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,547 shares of the bank's stock worth $512,000 after acquiring an additional 613 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Texas Capital Bancshares during the fourth quarter valued at about $42,050,000. Institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Trading Down 8.8 %

Shares of TCBI stock traded down $5.84 during trading on Thursday, hitting $60.40. 215,035 shares of the stock traded hands, compared to its average volume of 434,391. The firm has a market capitalization of $2.79 billion, a P/E ratio of 47.43, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74. Texas Capital Bancshares, Inc. has a 52-week low of $54.68 and a 52-week high of $91.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. The firm's fifty day moving average price is $75.74 and its 200-day moving average price is $78.38.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. As a group, research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TCBI. Hovde Group reduced their price objective on Texas Capital Bancshares from $90.00 to $84.00 and set a "market perform" rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an "underweight" rating for the company in a research note on Friday, January 24th. Barclays cut their price objective on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a research note on Tuesday. StockNews.com upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Stephens cut their price target on Texas Capital Bancshares from $102.00 to $97.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus target price of $80.36.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 5,670 shares of the stock in a transaction on Friday, January 24th. The shares were bought at an average cost of $27.60 per share, for a total transaction of $156,492.00. Following the purchase, the director now owns 180,893 shares of the company's stock, valued at $4,992,646.80. This trade represents a 3.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased 29,402 shares of company stock valued at $653,787 in the last ninety days. Insiders own 1.72% of the company's stock.

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.