Wellington Management Group LLP Has $71.52 Million Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Wellington Management Group LLP increased its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 97.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,106,536 shares of the bank’s stock after purchasing an additional 547,336 shares during the period. Wellington Management Group LLP’s holdings in Texas Capital Bancshares were worth $71,515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its holdings in Texas Capital Bancshares by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank’s stock worth $849,000 after purchasing an additional 175 shares during the last quarter. Retirement Systems of Alabama increased its stake in Texas Capital Bancshares by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock worth $3,887,000 after acquiring an additional 208 shares during the period. Headlands Technologies LLC increased its stake in Texas Capital Bancshares by 41.9% during the 4th quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock worth $104,000 after acquiring an additional 476 shares during the period. Rhumbline Advisers increased its stake in Texas Capital Bancshares by 0.4% during the 3rd quarter. Rhumbline Advisers now owns 179,486 shares of the bank’s stock worth $10,572,000 after acquiring an additional 636 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Texas Capital Bancshares by 13.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,207 shares of the bank’s stock worth $366,000 after acquiring an additional 757 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wedbush lowered their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Keefe, Bruyette & Woods lowered their price objective on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Truist Financial lowered their price objective on Texas Capital Bancshares from $66.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Jefferies Financial Group decreased their price target on Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. decreased their price target on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.58.

Insiders Place Their Bets

In related news, Director Robert W. Stallings bought 3,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average cost of $19.36 per share, with a total value of $58,080.00. Following the acquisition, the director now owns 169,706 shares of the company’s stock, valued at $3,285,508.16. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Robert W. Stallings bought 6,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were purchased at an average cost of $19.52 per share, with a total value of $117,120.00. Following the acquisition, the director now owns 163,706 shares of the company’s stock, valued at $3,195,541.12. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert W. Stallings bought 3,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were bought at an average cost of $19.36 per share, for a total transaction of $58,080.00. Following the completion of the acquisition, the director now directly owns 169,706 shares in the company, valued at approximately $3,285,508.16. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 15,004 shares of company stock valued at $292,878. 0.99% of the stock is currently owned by company insiders.

Texas Capital Bancshares Trading Up 0.1 %

Shares of TCBI stock opened at $58.39 on Friday. The firm has a market capitalization of $2.72 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.42 and a beta of 1.15. Texas Capital Bancshares, Inc. has a twelve month low of $48.41 and a twelve month high of $66.18. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $59.12 and its 200 day simple moving average is $60.06.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $256.33 million for the quarter, compared to analyst estimates of $253.27 million. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. As a group, sell-side analysts predict that Texas Capital Bancshares, Inc. will post 3.53 EPS for the current fiscal year.

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.