ExodusPoint Capital Management LP Buys Shares of 77,643 Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

ExodusPoint Capital Management LP purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the fourth quarter, Holdings Channel.com reports. The fund purchased 77,643 shares of the bank’s stock, valued at approximately $6,072,000.

Several other hedge funds have also made changes to their positions in the stock. Picton Mahoney Asset Management acquired a new stake in Texas Capital Bancshares in the fourth quarter worth $30,000. Assetmark Inc. bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth about $32,000. Venturi Wealth Management LLC acquired a new stake in shares of Texas Capital Bancshares in the 4th quarter worth about $37,000. R Squared Ltd bought a new stake in Texas Capital Bancshares in the 4th quarter valued at about $41,000. Finally, KBC Group NV boosted its stake in Texas Capital Bancshares by 64.2% during the 4th quarter. KBC Group NV now owns 2,172 shares of the bank’s stock valued at $170,000 after purchasing an additional 849 shares during the period. Institutional investors own 96.88% of the company’s stock.

Insider Activity

In other news, Director Robert W. Stallings acquired 5,670 shares of Texas Capital Bancshares stock in a transaction on Friday, January 24th. The stock was bought at an average cost of $27.60 per share, with a total value of $156,492.00. Following the completion of the purchase, the director now owns 180,893 shares of the company’s stock, valued at $4,992,646.80. This represents a 3.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased a total of 29,402 shares of company stock valued at $653,787 over the last three months. Insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Stock Down 3.2 %

NASDAQ TCBI opened at $64.50 on Friday. Texas Capital Bancshares, Inc. has a 12 month low of $54.68 and a 12 month high of $91.80. The company has a market capitalization of $2.98 billion, a P/E ratio of 50.39, a PEG ratio of 0.75 and a beta of 0.74. The company’s 50 day simple moving average is $77.21 and its 200 day simple moving average is $78.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. Equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TCBI. JPMorgan Chase & Co. dropped their price target on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $95.00 target price (down previously from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. Hovde Group decreased their price target on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a research note on Friday, March 7th. DA Davidson cut their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Finally, Stephens decreased their target price on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $80.43.

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.