Wellington Management Group LLP Acquires 150,301 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Wellington Management Group LLP raised its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 15.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,123,221 shares of the bank's stock after acquiring an additional 150,301 shares during the quarter. Wellington Management Group LLP owned approximately 2.43% of Texas Capital Bancshares worth $80,265,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TCBI. CWM LLC raised its position in shares of Texas Capital Bancshares by 40.8% during the second quarter. CWM LLC now owns 949 shares of the bank's stock valued at $58,000 after buying an additional 275 shares during the last quarter. AlphaMark Advisors LLC grew its stake in Texas Capital Bancshares by 11.6% during the second quarter. AlphaMark Advisors LLC now owns 5,257 shares of the bank's stock valued at $321,000 after acquiring an additional 546 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings 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 valued at $828,000 after acquiring an additional 257 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Texas Capital Bancshares by 21.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,473 shares of the bank's stock worth $640,000 after purchasing an additional 1,882 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Texas Capital Bancshares during the 2nd quarter valued at about $26,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TCBI shares. Truist Financial lifted their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a "hold" rating in a report on Monday, October 21st. Piper Sandler downgraded Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from $77.00 to $82.00 in a research note on Friday, October 18th. Bank of America upgraded Texas Capital Bancshares from an "underperform" rating to a "buy" rating and increased their target price for the company from $51.00 to $77.00 in a research report on Monday, September 9th. Royal Bank of Canada raised their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a "sector perform" rating in a report on Friday, October 18th. Finally, Barclays upped their price target on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the company an "underweight" rating in a research note on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $74.69.

Texas Capital Bancshares Trading Up 1.5 %

NASDAQ TCBI traded up $1.27 during trading on Wednesday, hitting $86.69. The stock had a trading volume of 308,474 shares, compared to its average volume of 425,445. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 474.56, a P/E/G ratio of 0.83 and a beta of 1.14. The stock has a 50 day simple moving average of $81.61 and a 200 day simple moving average of $69.94. Texas Capital Bancshares, Inc. has a one year low of $54.68 and a one year high of $91.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The company had revenue of $304.91 million during the quarter, compared to analysts' expectations of $279.64 million. Sell-side analysts predict that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Stallings bought 20,000 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average cost of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.99% of the company's stock.

About Texas Capital Bancshares

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.