Verition Fund Management LLC Invests $530,000 in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Verition Fund Management LLC bought 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 disclosure with the Securities & Exchange Commission. The firm bought 7,414 shares of the bank's stock, valued at approximately $530,000.

A number of other hedge funds have also recently bought and sold shares of TCBI. AlphaMark Advisors LLC lifted its position in shares of Texas Capital Bancshares by 2.6% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank's stock valued at $386,000 after acquiring an additional 139 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Texas Capital Bancshares by 89.9% during 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. State of Alaska Department of Revenue boosted its position in shares of Texas Capital Bancshares by 3.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank's stock valued at $383,000 after purchasing an additional 180 shares during the period. Tectonic Advisors LLC increased its stake in Texas Capital Bancshares by 1.1% in the 3rd quarter. Tectonic Advisors LLC now owns 22,818 shares of the bank's stock worth $1,631,000 after purchasing an additional 244 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its stake in Texas Capital Bancshares by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank's stock worth $828,000 after purchasing an additional 257 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on TCBI. Bank of America upgraded shares of Texas Capital Bancshares from an "underperform" rating to a "buy" rating and raised their target price for the stock from $51.00 to $77.00 in a report on Monday, September 9th. JPMorgan Chase & Co. raised their price objective on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an "underweight" rating in a research note on Friday, October 18th. DA Davidson lifted their price objective on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Truist Financial increased their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a "hold" rating in a report on Monday, October 21st. Finally, Piper Sandler downgraded 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. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Texas Capital Bancshares has an average rating of "Hold" and a consensus target price of $74.69.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought 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 owns 84,587 shares of the company's stock, valued at $1,800,011.36. The trade was a 30.97 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.99% of the stock is owned by company insiders.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI traded down $1.16 during midday trading on Thursday, hitting $85.53. The stock had a trading volume of 302,356 shares, compared to its average volume of 424,932. 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 fifty-two week low of $54.68 and a fifty-two week high of $91.80. The company has a market capitalization of $3.95 billion, a P/E ratio of 475.17, a price-to-earnings-growth ratio of 0.83 and a beta of 1.14. The company's 50-day moving average price is $82.25 and its 200-day moving average price is $70.17.

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

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.