Hodges Capital Management Increases Stake in Texas Capital Bancshares

Hodges Capital Management Inc. has expanded its investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 6.6% during the third quarter of the year, as indicated in its latest filing with the Securities and Exchange Commission (SEC). The investment firm now holds 190,943 shares of Texas Capital Bancshares after purchasing an additional 11,845 shares during this period. The total value of Hodges Capital Management's shares in the company stands at approximately $13,645,000, representing about 0.41% of Texas Capital Bancshares.

In addition to Hodges Capital Management, several other institutional investors have also adjusted their positions in Texas Capital Bancshares. For instance, Innealta Capital LLC entered a new position in the bank during the second quarter, spending about $26,000. Similarly, Blue Trust Inc. increased its holdings in Texas Capital Bancshares by an impressive 89.9% during the third quarter, acquiring 169 additional shares for a total of 357 shares, which are valued at roughly $26,000. Icon Wealth Advisors LLC also purchased a new position in the third quarter, totaling about $31,000. Meanwhile, CWM LLC upped its stake by 40.8% in the second quarter, resulting in ownership of 949 shares valued at approximately $58,000 after adding 275 shares. Lastly, Meeder Asset Management Inc. invested about $71,000 in Texas Capital Bancshares during the third quarter. Altogether, institutional investors and hedge funds hold 96.88% of the company's stock.

Analysts' Predictions Show Positive Outlook

Several analysts have weighed in on Texas Capital Bancshares recently. StockNews.com raised its rating from "sell" to "hold" in a report released on November 6. On September 9, Bank of America upgraded the stock from "underperform" to "buy," also increasing their price target from $51.00 to $77.00. Keefe, Bruyette & Woods reiterated an "outperform" rating with a target price of $74.00 on the same date. Additionally, Raymond James upgraded the bank's shares from a "market perform" to an "outperform" rating, setting a $78.00 price target on September 17. Hovde Group also increased their price objective from $73.00 to $79.00, giving the stock a "market perform" rating on October 18. In total, four analysts have issued sell ratings for Texas Capital Bancshares, nine have rated it as hold, and four have given it a buy rating. Data from MarketBeat.com shows that the overall consensus rating is "Hold" with an average price target of $74.69 for the stock.

Texas Capital Bancshares Stock Performance

As of the latest trading, Texas Capital Bancshares stock opened at $87.71. The stock's 50-day simple moving average is $81.03, while the 200-day simple moving average stands at $69.51. Texas Capital Bancshares has a market capitalization of $4.05 billion, a price-to-earnings ratio of 487.28, and a price-to-earnings-growth ratio of 0.85, with a beta value of 1.14. The bank reports a debt-to-equity ratio of 0.22 and both a current and quick ratio of 1.01. Over the past year, the stock hit a low of $54.68 and a high of $91.80.

Recently, Texas Capital Bancshares released its earnings report on October 17, revealing earnings per share (EPS) of $1.62 for the quarter, exceeding the consensus estimate of $0.97 by $0.65. The bank's revenue for the quarter reached $304.91 million, surpassing the analysts' expectations of $279.64 million. Notably, Texas Capital Bancshares reported a return on equity of 8.06% and a net margin of 1.40%. Analysts predict that the bank will deliver an EPS of 4.15 for the current fiscal year.

Insider Transactions Overview

In related news, Texas Capital Bancshares director Robert W. Stallings acquired 20,000 shares of the company's stock in a transaction dated October 22. The average purchase price was $21.28 per share, leading to a total investment of $425,600. Following this transaction, Stallings holds a total of 84,587 shares of Texas Capital Bancshares, valued at approximately $1,800,011.36, reflecting a 30.97% increase in his ownership stake. This acquisition was documented in an SEC filing, accessible through the official SEC website. Corporate insiders own about 0.99% of Texas Capital Bancshares stock.

Company Overview of Texas Capital Bancshares

Texas Capital Bancshares, Inc. serves as the holding company for Texas Capital Bank, offering a full spectrum of financial services. This includes tailored banking solutions for businesses, entrepreneurs, and individuals. Their service offerings encompass commercial and consumer banking, investment banking solutions including capital markets and mergers and acquisitions, financial advisory, as well as wealth management services that include investment management and financial planning.

Hodges, Investment, Stock