Norges Bank Invests $42.05 Million in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Norges Bank bought a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 537,729 shares of the bank’s stock, valued at approximately $42,050,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Amalgamated Bank grew its stake in shares of Texas Capital Bancshares by 0.8% in the 4th quarter. Amalgamated Bank now owns 20,791 shares of the bank’s stock worth $1,626,000 after acquiring an additional 166 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Texas Capital Bancshares by 5.3% during the third quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock worth $309,000 after purchasing an additional 217 shares during the last quarter. Xponance Inc. grew its position in Texas Capital Bancshares by 4.8% in the 4th quarter. Xponance Inc. now owns 6,569 shares of the bank’s stock worth $514,000 after purchasing an additional 300 shares in the last quarter. Savant Capital LLC increased its stake in Texas Capital Bancshares by 5.7% in the 4th quarter. Savant Capital LLC now owns 5,604 shares of the bank’s stock valued at $438,000 after buying an additional 303 shares during the last quarter. Finally, M&T Bank Corp lifted its position in shares of Texas Capital Bancshares by 6.8% during the 3rd quarter. M&T Bank Corp now owns 4,946 shares of the bank’s stock worth $353,000 after buying an additional 316 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Trading Down 3.2 %

Shares of TCBI opened at $64.50 on Friday. Texas Capital Bancshares, Inc. has a twelve month low of $54.68 and a twelve month high of $91.80. The stock has a market cap of $2.98 billion, a PE ratio of 50.39, a P/E/G ratio of 0.75 and a beta of 0.74. 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 business’s 50-day moving average price is $77.21 and its 200-day moving average price is $78.67.

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

Wall Street Analyst Weigh In

TCBI has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a report on Friday, January 24th. Hovde Group decreased their target price on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, March 7th. DA Davidson cut their price target on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Stephens dropped their target price on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus target price of $80.43.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 2,006 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were acquired at an average cost of $20.99 per share, for a total transaction of $42,105.94. Following the purchase, the director now directly owns 182,899 shares of the company’s stock, valued at $3,839,050.01. The trade was a 1.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have acquired 29,402 shares of company stock worth $653,787. Corporate insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Company 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.