Norges Bank Acquires Shares of 537,729 Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Norges Bank purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 537,729 shares of the bank's stock, valued at approximately $42,050,000. Norges Bank owned approximately 1.16% of Texas Capital Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in TCBI. Picton Mahoney Asset Management purchased a new stake in Texas Capital Bancshares in the 4th quarter worth approximately $30,000. Assetmark Inc. purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at $32,000. Venturi Wealth Management LLC purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at $37,000. R Squared Ltd acquired a new position in Texas Capital Bancshares in the fourth quarter valued at $41,000. Finally, KBC Group NV lifted its position in Texas Capital Bancshares by 64.2% during the fourth quarter. KBC Group NV now owns 2,172 shares of the bank's stock worth $170,000 after buying an additional 849 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 5,670 shares of the company's stock in a transaction dated Friday, January 24th. The shares were bought at an average price of $27.60 per share, for a total transaction of $156,492.00. Following the acquisition, the director now owns 180,893 shares in the company, valued at $4,992,646.80. This trade represents a 3.24 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 29,402 shares of company stock worth $653,787 over the last 90 days. Insiders own 1.72% of the company's stock.

Texas Capital Bancshares Stock Up 6.7 %

NASDAQ TCBI traded up $4.17 on Wednesday, reaching $66.24. The stock had a trading volume of 1,070,040 shares, compared to its average volume of 435,201. The company has a current ratio of 1.00, a quick ratio of 1.00 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. The business has a 50 day moving average price of $75.74 and a 200 day moving average price of $78.38. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 51.75, a P/E/G ratio of 0.75 and a beta of 0.74.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 EPS for the quarter, beating 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%. On average, analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TCBI has been the subject of several research reports. StockNews.com raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. DA Davidson lowered their price target on Texas Capital Bancshares from $90.00 to $87.00 and set a "neutral" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. cut their price objective on Texas Capital Bancshares from $81.00 to $80.00 and set an "underweight" rating on the stock in a report on Friday, January 24th. Barclays decreased their target price on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating for the company in a report on Tuesday. Finally, Stephens cut 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 report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, eight have given 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 $80.36.

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.