Martingale Asset Management L P Makes New $1.33 Million Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Martingale Asset Management L P purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,000 shares of the bank's stock, valued at approximately $1,329,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TCBI. Norges Bank acquired a new stake in Texas Capital Bancshares during the 4th quarter valued at $42,050,000. Massachusetts Financial Services Co. MA boosted its position in Texas Capital Bancshares by 22.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock valued at $58,246,000 after buying an additional 138,734 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Texas Capital Bancshares by 75.5% during the fourth quarter. JPMorgan Chase & Co. now owns 317,292 shares of the bank's stock valued at $24,812,000 after acquiring an additional 136,507 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter worth about $8,080,000. Finally, Prudential Financial Inc. lifted its stake in shares of Texas Capital Bancshares by 104.5% in the fourth quarter. Prudential Financial Inc. now owns 155,135 shares of the bank's stock worth $12,132,000 after acquiring an additional 79,290 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Stock Performance

TCBI traded up $0.19 during trading hours on Thursday, hitting $65.34. The company's stock had a trading volume of 364,727 shares, compared to its average volume of 443,338. Texas Capital Bancshares, Inc. has a fifty-two week low of $54.68 and a fifty-two week high of $91.80. The company has a 50-day simple moving average of $73.93 and a 200 day simple moving average of $78.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.01 billion, a PE ratio of 51.27, a PEG ratio of 0.75 and a beta of 0.74.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). The company had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. As a group, sell-side analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TCBI. Keefe, Bruyette & Woods restated an "outperform" rating and set a $95.00 price objective (down from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday, January 29th. Barclays dropped their price target on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. DA Davidson reduced their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a "neutral" rating on the stock in a research note on Friday, January 24th. StockNews.com raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Stephens reduced their price target on shares of 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Texas Capital Bancshares has a consensus rating of "Hold" and a consensus price target of $80.36.

Insider Buying and Selling

In related news, Director Robert W. Stallings acquired 5,670 shares of Texas Capital Bancshares stock in a transaction dated Friday, January 24th. The stock was acquired at an average cost of $27.60 per share, with a total value of $156,492.00. Following the purchase, the director now directly owns 180,893 shares in the company, valued at $4,992,646.80. The trade was a 3.24 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 29,402 shares of company stock valued at $653,787 over the last three months. Company 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.