M&T Bank Corp Has $353,000 Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

M&T Bank Corp increased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 6.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,946 shares of the bank’s stock after purchasing an additional 316 shares during the period. M&T Bank Corp’s holdings in Texas Capital Bancshares were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Algert Global LLC lifted its holdings in shares of Texas Capital Bancshares by 367.3% in the third quarter. Algert Global LLC now owns 22,316 shares of the bank’s stock valued at $1,595,000 after purchasing an additional 17,540 shares in the last quarter. AQR Capital Management LLC lifted its stake in Texas Capital Bancshares by 87.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after acquiring an additional 506,094 shares in the last quarter. Jane Street Group LLC boosted its position in Texas Capital Bancshares by 107.2% during the 3rd quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock worth $9,481,000 after acquiring an additional 68,632 shares during the period. TD Asset Management Inc grew its stake in Texas Capital Bancshares by 26.6% during the 2nd quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock valued at $2,096,000 after acquiring an additional 7,200 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its holdings in shares of Texas Capital Bancshares by 22.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 179,098 shares of the bank’s stock valued at $10,950,000 after purchasing an additional 32,248 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Price Performance

NASDAQ TCBI opened at $77.90 on Thursday. The stock has a market capitalization of $3.60 billion, a PE ratio of 432.78, a P/E/G ratio of 0.80 and a beta of 1.14. The stock has a 50-day simple moving average of $83.02 and a 200 day simple moving average of $70.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. Texas Capital Bancshares, Inc. has a twelve month low of $54.68 and a twelve month high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The company had revenue of $304.91 million during the quarter, compared to analysts’ expectations of $279.64 million. Research analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current year.

Wall Street Analysts Forecast Growth

TCBI has been the topic of several research reports. Hovde Group upped their price objective on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target on the stock in a research note on Tuesday, September 17th. JPMorgan Chase & Co. boosted their target price on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $77.00 to $82.00 in a research note on Friday, October 18th. Finally, Royal Bank of Canada raised their price objective on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.69.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 20,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average price of $21.28 per share, with a total value of $425,600.00. Following the acquisition, the director now directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.53% of the company’s stock.

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.