Geode Capital Management LLC Has $81.86 Million Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Geode Capital Management LLC lifted its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,145,271 shares of the bank's stock after acquiring an additional 13,022 shares during the period. Geode Capital Management LLC owned approximately 2.48% of Texas Capital Bancshares worth $81,856,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth $26,000. Blue Trust Inc. lifted its stake in shares of Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank's stock valued at $26,000 after purchasing an additional 169 shares during the period. Icon Wealth Advisors LLC purchased a new stake in Texas Capital Bancshares in the third quarter worth about $31,000. Meeder Asset Management Inc. bought a new position in Texas Capital Bancshares during the 3rd quarter valued at approximately $71,000. Finally, CWM LLC lifted its stake in shares of Texas Capital Bancshares by 69.8% in the third quarter. CWM LLC now owns 1,611 shares of the bank's stock worth $115,000 after buying an additional 662 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TCBI shares. Royal Bank of Canada boosted their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a "sector perform" rating in a research note on Friday, October 18th. Truist Financial raised their target price on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a "hold" rating in a report on Monday, October 21st. Barclays boosted their target price on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an "underweight" rating in a research report on Thursday, December 5th. Wedbush reaffirmed a "sector perform" rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Finally, Piper Sandler cut shares of Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $77.00 to $82.00 in a report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Texas Capital Bancshares has an average rating of "Hold" and an average price target of $74.69.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 20,000 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average cost of $21.28 per share, with a total value of $425,600.00. Following the purchase, the director now owns 84,587 shares of the company's stock, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.53% of the company's stock.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI traded down $0.01 during trading hours on Friday, reaching $76.77. 1,049,410 shares of the stock were exchanged, compared to its average volume of 430,633. The stock has a market capitalization of $3.55 billion, a P/E ratio of 426.50, a P/E/G ratio of 0.80 and a beta of 1.14. Texas Capital Bancshares, Inc. has a 52 week low of $54.68 and a 52 week high of $91.80. The firm has a 50 day simple moving average of $83.10 and a 200-day simple moving average of $71.05. 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 (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The business had revenue of $304.91 million during the quarter, compared to analyst estimates of $279.64 million. As a group, sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current fiscal year.

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.