Harbor Investment Advisory LLC Invests $656,000 in Texas Capital Bancshares, Inc. $TCBI

Harbor Investment Advisory LLC bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 8,265 shares of the bank’s stock, valued at approximately $656,000.

Several other institutional investors have also recently made changes to their positions in TCBI. Bank of America Corp DE grew its stake in shares of Texas Capital Bancshares by 25.0% in the 4th quarter. Bank of America Corp DE now owns 198,906 shares of the bank’s stock worth $15,554,000 after acquiring an additional 39,832 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Texas Capital Bancshares by 10.1% in the 4th quarter. Captrust Financial Advisors now owns 11,046 shares of the bank’s stock worth $864,000 after acquiring an additional 1,010 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Texas Capital Bancshares by 149.8% in the 4th quarter. Deutsche Bank AG now owns 112,168 shares of the bank’s stock worth $8,772,000 after acquiring an additional 67,264 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Texas Capital Bancshares by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,397 shares of the bank’s stock worth $2,064,000 after acquiring an additional 1,011 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Texas Capital Bancshares by 60.6% in the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank’s stock worth $30,144,000 after acquiring an additional 145,393 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $86.98 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $3.98 billion, a PE ratio of 34.52, a P/E/G ratio of 0.72 and a beta of 0.69. Texas Capital Bancshares, Inc. has a twelve month low of $59.37 and a twelve month high of $94.61. The company has a 50-day moving average price of $85.47 and a two-hundred day moving average price of $77.26.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.35. The firm had revenue of $307.46 million during the quarter, compared to analyst estimates of $298.90 million. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. During the same quarter last year, the business earned $0.80 earnings per share. Equities analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the company an “underweight” rating in a research report on Friday, July 18th. Hovde Group increased their price target on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a “market perform” rating in a research report on Friday, July 18th. Citigroup increased their price target on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods increased their price target on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Finally, Jefferies Financial Group set a $80.00 price target on shares of Texas Capital Bancshares and gave the company a “hold” rating in a research report on Wednesday, May 21st. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of “Hold” and a consensus price target of $84.00.

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.