Wells Fargo & Company MN Boosts Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Wells Fargo & Company MN raised its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 30.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,714 shares of the bank's stock after purchasing an additional 6,618 shares during the quarter. Wells Fargo & Company MN owned 0.06% of Texas Capital Bancshares worth $2,245,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. ExodusPoint Capital Management LP bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth about $6,072,000. Bryce Point Capital LLC bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth about $1,257,000. Massachusetts Financial Services Co. MA raised its position in shares of Texas Capital Bancshares by 22.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock worth $58,246,000 after acquiring an additional 138,734 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Texas Capital Bancshares by 300.1% during the fourth quarter. Meeder Asset Management Inc. now owns 3,961 shares of the bank's stock worth $310,000 after acquiring an additional 2,971 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Texas Capital Bancshares by 10.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,547 shares of the bank's stock worth $512,000 after acquiring an additional 613 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Stock Up 1.0 %

Texas Capital Bancshares stock traded up $0.65 during mid-day trading on Monday, reaching $68.54. The stock had a trading volume of 457,187 shares, compared to its average volume of 446,781. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares, Inc. has a fifty-two week low of $56.24 and a fifty-two week high of $91.80. The stock's 50-day simple moving average is $71.48 and its 200-day simple moving average is $77.84. The firm has a market capitalization of $3.15 billion, a PE ratio of 53.55, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). The firm had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. On average, sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 7,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $20.43 per share, with a total value of $143,010.00. Following the completion of the transaction, the director now directly owns 49,500 shares in the company, valued at approximately $1,011,285. This represents a 16.47 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 26,726 shares of company stock valued at $778,504 over the last 90 days. Insiders own 1.72% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TCBI. Stephens lowered their price objective on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Raymond James lowered their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods lowered their target price on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Barclays lowered 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, April 8th. Finally, Piper Sandler lowered their target price on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Three investment 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 MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $76.64.

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.