Occudo Quantitative Strategies LP Makes New Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Occudo Quantitative Strategies LP bought a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the 4th quarter, Holdings Channel.com reports. The fund bought 10,020 shares of the bank’s stock, valued at approximately $784,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Picton Mahoney Asset Management purchased a new stake in shares of Texas Capital Bancshares during the 4th quarter worth $30,000. Assetmark Inc. bought a new position in Texas Capital Bancshares in the fourth quarter worth about $32,000. Venturi Wealth Management LLC purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $37,000. R Squared Ltd purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $41,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Texas Capital Bancshares in the 4th quarter valued at about $115,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $76.02 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 59.39, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. The company has a 50 day moving average price of $70.03 and a 200-day moving average price of $77.33. Texas Capital Bancshares, Inc. has a 1-year low of $56.24 and a 1-year high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.07). Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. The firm had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. Equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TCBI shares. Piper Sandler dropped their target price on Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Raymond James lowered their price target on Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, April 21st. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Barclays decreased their price objective on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an “underweight” rating for the company in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $76.64.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $67.76 per share, for a total transaction of $338,800.00. Following the purchase, the director now directly owns 90,039 shares in the company, valued at approximately $6,101,042.64. This trade represents a 5.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 19,300 shares of company stock valued at $850,815 in the last ninety days. 1.72% of the stock is currently owned by corporate insiders.

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.