Texas Capital Bancshares Inc (TCBI) Shares Bought by Millennium Management LLC

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Millennium Management LLC raised its position in shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) by 8,258.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,371,662 shares of the bank’s stock after acquiring an additional 1,355,251 shares during the quarter. Millennium Management LLC’s holdings in Texas Capital Bancshares were worth $125,507,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TCBI. Point72 Asset Management L.P. bought a new stake in Texas Capital Bancshares during the second quarter valued at $119,000. Commonwealth Equity Services LLC bought a new stake in Texas Capital Bancshares during the first quarter valued at $222,000. Sentry Investments Corp. bought a new stake in Texas Capital Bancshares during the first quarter valued at $224,000. WINTON GROUP Ltd bought a new stake in Texas Capital Bancshares during the first quarter valued at $250,000. Finally, ING Groep NV bought a new stake in Texas Capital Bancshares during the first quarter valued at $311,000.

In related news, Director Ian J. Turpin sold 5,320 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $93.06, for a total value of $495,079.20. Following the transaction, the director now owns 8,602 shares of the company’s stock, valued at approximately $800,502.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

A number of brokerages have commented on TCBI. Piper Jaffray Companies reaffirmed a “buy” rating and set a $117.00 price target on shares of Texas Capital Bancshares in a research report on Friday, July 20th. Wedbush increased their price objective on shares of Texas Capital Bancshares from $109.00 to $110.00 and gave the stock a “$96.20” rating in a research report on Thursday, July 19th. BidaskClub raised shares of Texas Capital Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 21st. Zacks Investment Research cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $105.00 price objective on shares of Texas Capital Bancshares in a research report on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $106.47.

TCBI stock opened at $87.00 on Friday. The stock has a market cap of $4.39 billion, a PE ratio of 17.28, a P/E/G ratio of 1.26 and a beta of 1.76. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 2.00. Texas Capital Bancshares Inc has a 1 year low of $76.45 and a 1 year high of $103.05.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Wednesday, July 18th. The bank reported $1.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by ($0.01). Texas Capital Bancshares had a net margin of 22.15% and a return on equity of 12.51%. The business had revenue of $248.99 million during the quarter, compared to the consensus estimate of $242.58 million. During the same period in the previous year, the business posted $0.97 EPS. sell-side analysts expect that Texas Capital Bancshares Inc will post 6.12 EPS for the current fiscal year.

Texas Capital Bancshares Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

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Institutional Ownership by Quarter for Texas Capital Bancshares (NASDAQ:TCBI)

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