NJ State Employees Deferred Compensation Plan Purchases Shares of 3,000 Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

NJ State Employees Deferred Compensation Plan acquired a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the 3rd quarter, HoldingsChannel reports. The fund acquired 3,000 shares of the bank’s stock, valued at approximately $214,000.

Several other institutional investors also recently modified their holdings of the business. AlphaMark Advisors LLC grew its stake in Texas Capital Bancshares by 2.6% during the third quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank’s stock worth $386,000 after purchasing an additional 139 shares during the period. Blue Trust Inc. increased its stake in shares of Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after acquiring an additional 169 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Texas Capital Bancshares by 3.5% during the third quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank’s stock worth $383,000 after acquiring an additional 180 shares in the last quarter. Tectonic Advisors LLC increased its stake in Texas Capital Bancshares by 1.1% in the third quarter. Tectonic Advisors LLC now owns 22,818 shares of the bank’s stock valued at $1,631,000 after purchasing an additional 244 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its position in shares of Texas Capital Bancshares by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank’s stock worth $828,000 after purchasing an additional 257 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 20,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, October 22nd. The stock was acquired 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 of the company’s stock, valued at $1,800,011.36. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Stock Up 1.3 %

Texas Capital Bancshares stock opened at $84.09 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.89 billion, a P/E ratio of 467.17, a P/E/G ratio of 0.80 and a beta of 1.12. The firm has a 50 day moving average price of $73.66 and a 200-day moving average price of $65.71. Texas Capital Bancshares, Inc. has a twelve month low of $53.16 and a twelve month high of $86.00.

Texas Capital Bancshares (NASDAQ:TCBI) last released its 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. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The business had revenue of $304.91 million during the quarter, compared to the consensus estimate of $279.64 million. As a group, equities analysts predict that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TCBI. Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $77.00 to $82.00 in a report on Friday, October 18th. Barclays raised their price objective on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the company an “underweight” 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 target price for the company in a research report on Tuesday, September 17th. Truist Financial raised their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $74.00.

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.