LMR Partners LLP Acquires Shares of 10,356 Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

LMR Partners LLP purchased 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 Form 13F filing with the SEC. The institutional investor purchased 10,356 shares of the bank's stock, valued at approximately $740,000.

Several other large investors also recently modified their holdings of TCBI. Blue Trust Inc. raised its position 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 worth $26,000 after acquiring an additional 169 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Texas Capital Bancshares during the second quarter valued at approximately $26,000. CWM LLC grew its stake in shares of Texas Capital Bancshares by 40.8% in the 2nd quarter. CWM LLC now owns 949 shares of the bank's stock worth $58,000 after buying an additional 275 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Texas Capital Bancshares in the third quarter worth $201,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in Texas Capital Bancshares during the 3rd quarter valued at about $214,000. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI traded down $2.00 during trading on Wednesday, reaching $83.90. 611,907 shares of the company's stock traded hands, compared to its average volume of 431,216. Texas Capital Bancshares, Inc. has a fifty-two week low of $53.16 and a fifty-two week high of $91.29. The company has a 50-day simple moving average of $76.59 and a 200-day simple moving average of $67.14. 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 firm has a market cap of $3.88 billion, a PE ratio of 477.22, a P/E/G ratio of 0.83 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The company had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. As a group, analysts predict that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on TCBI. Truist Financial lifted their target price on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. Hovde Group raised their price objective on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. Piper Sandler downgraded shares of Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $77.00 to $82.00 in a report on Friday, October 18th. Barclays increased their price objective on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the company an "underweight" rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an "underweight" rating in a research note on Friday, October 18th. 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 MarketBeat, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus price target of $74.00.

Insider Buying and Selling 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 30.97 % 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. 1.53% of the stock is owned by corporate insiders.

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.