Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC increased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 23.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,038 shares of the bank's stock after purchasing an additional 7,849 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.09% of Texas Capital Bancshares worth $2,933,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Blue Trust Inc. raised its holdings in shares of Texas Capital Bancshares by 89.9% in the third 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 last quarter. Innealta Capital LLC acquired a new stake in shares of Texas Capital Bancshares in the second quarter valued at $26,000. CWM LLC grew its stake in Texas Capital Bancshares by 40.8% during the 2nd quarter. CWM LLC now owns 949 shares of the bank's stock worth $58,000 after purchasing an additional 275 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Texas Capital Bancshares during the 3rd quarter worth approximately $201,000. Finally, Headlands Technologies LLC grew its stake in shares of Texas Capital Bancshares by 80.4% during the first quarter. Headlands Technologies LLC now owns 2,910 shares of the bank's stock valued at $179,000 after acquiring an additional 1,297 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. DA Davidson boosted their price objective on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Raymond James upgraded Texas Capital Bancshares from a "market perform" rating to an "outperform" rating and set a $78.00 price target for the company in a research report on Tuesday, September 17th. StockNews.com upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Piper Sandler downgraded Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and upped their target price for the company from $77.00 to $82.00 in a report on Friday, October 18th. Finally, Hovde Group lifted their target price on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $74.00.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock traded up $1.04 during mid-day trading on Tuesday, reaching $89.00. The stock had a trading volume of 517,738 shares, compared to its average volume of 430,576. The firm's 50 day simple moving average is $74.08 and its 200 day simple moving average is $65.92. 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, Inc. has a one year low of $53.16 and a one year high of $89.45. The firm has a market cap of $4.11 billion, a PE ratio of 488.67, a P/E/G ratio of 0.80 and a beta of 1.12.

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

Insider Activity

In other news, Director Robert W. Stallings acquired 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the transaction, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.99% of the company's stock.

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.