Savant Capital LLC Grows Holdings in Texas Capital Bancshares, Inc. $TCBI

Savant Capital LLC raised its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 84.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,567 shares of the bank’s stock after purchasing an additional 8,481 shares during the quarter. Savant Capital LLC’s holdings in Texas Capital Bancshares were worth $1,474,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its position in shares of Texas Capital Bancshares by 0.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank’s stock valued at $248,936,000 after purchasing an additional 26,786 shares during the period. AQR Capital Management LLC increased its stake in Texas Capital Bancshares by 84.8% in the 1st quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank’s stock worth $105,395,000 after buying an additional 657,630 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Texas Capital Bancshares by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 813,028 shares of the bank’s stock valued at $60,733,000 after acquiring an additional 68,195 shares during the period. Bank of New York Mellon Corp raised its holdings in Texas Capital Bancshares by 12.3% during the second quarter. Bank of New York Mellon Corp now owns 657,626 shares of the bank’s stock valued at $52,216,000 after acquiring an additional 71,774 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Texas Capital Bancshares by 2.5% in the first quarter. Wellington Management Group LLP now owns 591,488 shares of the bank’s stock valued at $44,184,000 after acquiring an additional 14,169 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 10,000 shares of the business’s stock in a transaction on Friday, October 24th. The shares were acquired at an average price of $20.61 per share, for a total transaction of $206,100.00. Following the completion of the transaction, the director directly owned 265,913 shares of the company’s stock, valued at approximately $5,480,466.93. The trade was a 3.91% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.72% of the stock is owned by insiders.

Texas Capital Bancshares Trading Up 0.6%

Shares of NASDAQ TCBI opened at $87.38 on Wednesday. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $94.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50 day moving average is $84.88 and its two-hundred day moving average is $81.44. The stock has a market capitalization of $3.99 billion, a P/E ratio of 14.30, a PEG ratio of 0.63 and a beta of 0.82.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, October 22nd. The bank reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.41. The firm had revenue of $340.35 million during the quarter, compared to analysts’ expectations of $327.13 million. Texas Capital Bancshares had a return on equity of 9.51% and a net margin of 15.14%.The company’s quarterly revenue was up 171.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.41) EPS. As a group, research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on TCBI. Keefe, Bruyette & Woods lifted their target price on Texas Capital Bancshares from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Citigroup increased their price objective on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a report on Friday, July 18th. Cowen assumed coverage on shares of Texas Capital Bancshares in a report on Wednesday, September 24th. They issued a “hold” rating on the stock. Weiss Ratings upgraded shares of Texas Capital Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 31st. Finally, DA Davidson set a $91.00 price target on shares of Texas Capital Bancshares in a report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average target price of $88.10.

About Texas Capital Bancshares

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.