Wellington Management Group LLP Has $80.27 Million Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Wellington Management Group LLP grew its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 15.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,123,221 shares of the bank’s stock after purchasing an additional 150,301 shares during the period. Wellington Management Group LLP’s holdings in Texas Capital Bancshares were worth $80,265,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in Texas Capital Bancshares during the second quarter valued at approximately $26,000. Blue Trust Inc. raised its stake in shares of Texas Capital Bancshares by 89.9% during the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after purchasing an additional 169 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in shares of Texas Capital Bancshares in the 3rd quarter valued at approximately $31,000. CWM LLC grew its stake in shares of Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after buying an additional 275 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Texas Capital Bancshares during the third quarter worth $71,000. Institutional investors own 96.88% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert W. Stallings bought 20,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were purchased at an average cost 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 $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.99% of the stock is owned by company insiders.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $85.42 on Wednesday. Texas Capital Bancshares, Inc. has a 12-month low of $54.68 and a 12-month high of $91.80. The firm has a 50-day moving average price of $81.61 and a two-hundred day moving average price of $69.94. The company has a market capitalization of $3.95 billion, a P/E ratio of 474.56, a P/E/G ratio of 0.83 and a beta of 1.14. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on TCBI. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $77.00 to $82.00 in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 price target on shares of Texas Capital Bancshares in a report on Monday, September 9th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $74.69.

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.