Picton Mahoney Asset Management Takes Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Picton Mahoney Asset Management acquired a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 376 shares of the bank’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TCBI. Crossmark Global Holdings Inc. purchased a new position in Texas Capital Bancshares in the 3rd quarter worth $201,000. Victory Capital Management Inc. raised its stake in Texas Capital Bancshares by 326.6% in the 3rd quarter. Victory Capital Management Inc. now owns 70,103 shares of the bank’s stock worth $5,010,000 after acquiring an additional 53,669 shares during the last quarter. LMR Partners LLP purchased a new position in Texas Capital Bancshares in the 3rd quarter worth $740,000. Pathstone Holdings LLC raised its stake in Texas Capital Bancshares by 3.3% in the 3rd quarter. Pathstone Holdings LLC now owns 42,663 shares of the bank’s stock worth $3,049,000 after acquiring an additional 1,365 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Texas Capital Bancshares in the 3rd quarter worth $71,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $75.62 on Tuesday. Texas Capital Bancshares, Inc. has a 52 week low of $54.68 and a 52 week high of $91.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.49 billion, a PE ratio of 59.08, a price-to-earnings-growth ratio of 0.75 and a beta of 1.13. The stock’s 50-day moving average price is $78.25 and its 200-day moving average price is $78.19.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data 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 return on equity of 9.14% and a net margin of 3.99%. As a group, equities analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 7,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average cost of $21.10 per share, for a total transaction of $147,700.00. Following the acquisition, the director now owns 202,413 shares in the company, valued at approximately $4,270,914.30. This represents a 3.58 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have bought 29,402 shares of company stock worth $653,787. Insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. DA Davidson reduced their target price 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. Stephens cut their price target on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $95.00 price target (down from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Hovde Group cut their price target on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, March 7th. Finally, StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Three 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 company’s stock. Based on data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus price target of $79.47.

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.