Prudential Financial Inc. Grows Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Prudential Financial Inc. increased its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 104.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,135 shares of the bank's stock after acquiring an additional 79,290 shares during the quarter. Prudential Financial Inc. owned about 0.34% of Texas Capital Bancshares worth $12,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TCBI. Picton Mahoney Asset Management purchased a new position in shares of Texas Capital Bancshares during the fourth quarter worth about $30,000. Assetmark Inc. purchased a new position in Texas Capital Bancshares during the 4th quarter worth approximately $32,000. Venturi Wealth Management LLC acquired a new position in Texas Capital Bancshares during the fourth quarter worth approximately $37,000. R Squared Ltd acquired a new position in Texas Capital Bancshares during the fourth quarter worth approximately $41,000. Finally, Icon Wealth Advisors LLC purchased a new stake in Texas Capital Bancshares in the third quarter valued at approximately $103,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on TCBI. StockNews.com raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Stephens dropped their price objective on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an "underweight" rating for the company in a report on Friday, January 24th. Barclays raised their price target on Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an "underweight" rating in a report on Thursday, December 5th. Finally, DA Davidson cut their price target on Texas Capital Bancshares from $90.00 to $87.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $80.43.

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Texas Capital Bancshares Price Performance

NASDAQ:TCBI traded up $0.35 during mid-day trading on Wednesday, hitting $74.71. 106,784 shares of the company's stock traded hands, compared to its average volume of 425,214. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. The firm's 50 day simple moving average is $77.80 and its 200 day simple moving average is $78.83. Texas Capital Bancshares, Inc. has a 1 year low of $54.68 and a 1 year high of $91.80. The company has a market cap of $3.45 billion, a PE ratio of 58.33, a price-to-earnings-growth ratio of 0.75 and a beta of 1.13.

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

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 5,670 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average price of $27.60 per share, with a total value of $156,492.00. Following the completion of the transaction, the director now owns 180,893 shares of the company's stock, valued at approximately $4,992,646.80. This trade represents a 3.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders acquired 29,402 shares of company stock worth $653,787. 1.72% of the stock is currently owned by insiders.

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.