Hodges Capital Management Increases Stake in Texas Capital Bancshares

Hodges Capital Management Inc. has increased its investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 6.6% in the third quarter, as reported in their latest filing with the Securities and Exchange Commission (SEC). The firm now possesses 190,943 shares after acquiring an additional 11,845 shares during this period. This stake represents approximately 0.41% of Texas Capital Bancshares, with a total value of about $13,645,000 at the close of the quarter.

Several other institutional investors and hedge funds have also adjusted their holdings in Texas Capital Bancshares. For instance, Innealta Capital LLC initiated a new investment valued around $26,000 in the second quarter. Blue Trust Inc. significantly boosted its position by 89.9% during the third quarter, bringing its total to 357 shares worth $26,000 after acquiring 169 additional shares. Icon Wealth Advisors LLC also purchased a new stake valued at $31,000 in the same quarter. CWM LLC's position in Texas Capital Bancshares expanded by 40.8% in the second quarter, resulting in ownership of 949 shares valued at $58,000 after acquiring an additional 275 shares. Finally, Meeder Asset Management Inc. established a new stake worth about $71,000 during the third quarter. Currently, institutional investors and hedge funds own approximately 96.88% of the company's stock.

Analysts' Outlook on Texas Capital Bancshares

Recently, various analysts have commented positively on Texas Capital Bancshares. StockNews.com upgraded the stock from a "sell" to a "hold" rating in a report published on November 6. Bank of America also improved its rating from "underperform" to "buy" and raised its price target from $51.00 to $77.00 on September 9. Additionally, Keefe, Bruyette & Woods maintained an "outperform" rating with a target price of $74.00 on the same day. Raymond James followed suit by upgrading its rating from "market perform" to "outperform" with a price target of $78.00 on September 17. Finally, Hovde Group increased its price target from $73.00 to $79.00 in a report released on October 18, while labeling the stock as "market perform." Overall, four analysts rated the stock as a sell, nine as hold, and four as buy, culminating in a consensus rating of "Hold" and an average price target of $74.69 according to MarketBeat.com.

Current Stock Performance

As of now, Texas Capital Bancshares' stock opened at $87.71. The company has a 50-day simple moving average of $81.03 and a 200-day moving average of $69.51. The market capitalization stands at approximately $4.05 billion, with a price-to-earnings ratio of 487.28 and a price-to-earnings-growth ratio of 0.85. The firm also holds a beta of 1.14 and a debt-to-equity ratio of 0.22, with both current and quick ratios at 1.01. The stock hit a 1-year low of $54.68 and a high of $91.80 during the same period.

Recently, Texas Capital Bancshares released its quarterly earnings on October 17, reporting earnings per share (EPS) of $1.62, which exceeded the consensus estimate of $0.97 by $0.65. The company generated revenues of $304.91 million for the quarter, outperforming analysts' expectations of $279.64 million. The return on equity was registered at 8.06%, along with a net margin of 1.40%. Analysts predict that Texas Capital Bancshares, Inc. will post an EPS of 4.15 for the current year.

Insider Transactions

In related news, Director Robert W. Stallings acquired 20,000 shares of Texas Capital Bancshares on October 22, purchasing them at an average price of $21.28 each, totaling $425,600. Following this transaction, Stallings directly owns 84,587 shares of the company, estimated to be worth approximately $1,800,011.36, representing a 30.97% increase in his stock ownership. This acquisition was reported in documents filed with the SEC, which are accessible via the SEC website. Corporate insiders hold about 0.99% of the total stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc. serves as the bank holding company for Texas Capital Bank, providing a wide range of financial services tailored to businesses, entrepreneurs, and individual clients. Their offerings include commercial banking, consumer banking, investment banking solutions such as capital markets, mergers and acquisitions, and syndicated finance. They also provide wealth management services, which encompass investment management, financial planning, and various other financial services.

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