Texas Capital Bancshares Inc (TCBI) Shares Bought by Engineers Gate Manager LP

Engineers Gate Manager LP raised its stake in Texas Capital Bancshares Inc (NASDAQ:TCBI) by 115.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,030 shares of the bank’s stock after acquiring an additional 32,710 shares during the quarter. Engineers Gate Manager LP owned about 0.12% of Texas Capital Bancshares worth $5,044,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in TCBI. Commonwealth Equity Services LLC bought a new position in Texas Capital Bancshares in the 1st quarter valued at about $222,000. Millennium Management LLC raised its holdings in Texas Capital Bancshares by 94.1% in the 1st quarter. Millennium Management LLC now owns 16,411 shares of the bank’s stock valued at $1,475,000 after acquiring an additional 7,955 shares during the period. Legal & General Group Plc raised its holdings in Texas Capital Bancshares by 4.5% in the 1st quarter. Legal & General Group Plc now owns 60,168 shares of the bank’s stock valued at $5,409,000 after acquiring an additional 2,566 shares during the period. WINTON GROUP Ltd bought a new position in Texas Capital Bancshares in the 1st quarter valued at about $250,000. Finally, Principal Financial Group Inc. raised its holdings in Texas Capital Bancshares by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 215,393 shares of the bank’s stock valued at $19,363,000 after acquiring an additional 5,306 shares during the period.

Shares of TCBI opened at $65.39 on Friday. Texas Capital Bancshares Inc has a 12 month low of $61.48 and a 12 month high of $103.05. The company has a market cap of $3.28 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.05 and a beta of 1.86. The company has a current ratio of 1.29, a quick ratio of 1.21 and a debt-to-equity ratio of 1.58.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, October 17th. The bank reported $1.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.07). Texas Capital Bancshares had a return on equity of 13.36% and a net margin of 23.10%. The business had revenue of $257.69 million for the quarter, compared to the consensus estimate of $257.14 million. During the same period in the prior year, the business posted $1.12 earnings per share. As a group, equities analysts predict that Texas Capital Bancshares Inc will post 6.02 EPS for the current year.

Several research firms have weighed in on TCBI. BidaskClub cut shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, September 15th. Sandler O’Neill reissued a “hold” rating and issued a $103.00 price target on shares of Texas Capital Bancshares in a report on Friday, July 20th. Wedbush raised their target price on shares of Texas Capital Bancshares from $109.00 to $110.00 and gave the stock a “$96.20” rating in a report on Thursday, July 19th. Barclays lowered their target price on shares of Texas Capital Bancshares from $108.00 to $99.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 3rd. Finally, Zacks Investment Research cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $96.82.

In other news, CEO C Keith Cargill purchased 3,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, October 19th. The shares were acquired at an average price of $67.59 per share, for a total transaction of $202,770.00. Following the transaction, the chief executive officer now owns 90,880 shares of the company’s stock, valued at approximately $6,142,579.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vince A. Ackerson purchased 2,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, October 19th. The shares were purchased at an average price of $67.00 per share, for a total transaction of $134,000.00. Following the transaction, the insider now directly owns 28,485 shares in the company, valued at approximately $1,908,495. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

Texas Capital Bancshares Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

Further Reading: Bond

Institutional Ownership by Quarter for Texas Capital Bancshares (NASDAQ:TCBI)

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