Crossmark Global Holdings Inc. Purchases Shares of 3,232 Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Posted by Defense World Staff on Oct 31st, 2023

Crossmark Global Holdings Inc. purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,232 shares of the bank’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Inspire Investing LLC raised its holdings in shares of Texas Capital Bancshares by 8.6% in the 2nd quarter. Inspire Investing LLC now owns 6,082 shares of the bank’s stock valued at $313,000 after acquiring an additional 481 shares in the last quarter. Peregrine Capital Management LLC raised its holdings in shares of Texas Capital Bancshares by 75,714.8% in the 2nd quarter. Peregrine Capital Management LLC now owns 159,211 shares of the bank’s stock valued at $8,199,000 after acquiring an additional 159,001 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Texas Capital Bancshares by 9.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,000 shares of the bank’s stock valued at $721,000 after acquiring an additional 1,200 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in shares of Texas Capital Bancshares by 16.3% in the 2nd quarter. Hennessy Advisors Inc. now owns 50,000 shares of the bank’s stock valued at $2,575,000 after acquiring an additional 7,000 shares in the last quarter. Finally, New Mexico Educational Retirement Board raised its holdings in shares of Texas Capital Bancshares by 10.0% in the 2nd quarter. New Mexico Educational Retirement Board now owns 9,900 shares of the bank’s stock valued at $510,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TCBI shares. Truist Financial decreased their price objective on Texas Capital Bancshares from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, October 23rd. Wedbush raised their price objective on Texas Capital Bancshares from $55.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, July 21st. StockNews.com started coverage on Texas Capital Bancshares in a report on Thursday, October 5th. They set a “sell” rating on the stock. Jefferies Financial Group raised their price objective on Texas Capital Bancshares from $60.00 to $64.00 in a report on Tuesday, October 10th. Finally, Raymond James decreased their price objective on Texas Capital Bancshares from $74.00 to $72.00 and set a “strong-buy” rating on the stock in a report on Friday, October 20th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.38.

View Our Latest Analysis on TCBI

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $59.87 per share, for a total transaction of $59,870.00. Following the completion of the transaction, the director now directly owns 265,000 shares of the company’s stock, valued at approximately $15,865,550. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert W. Stallings purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $59.87 per share, for a total transaction of $59,870.00. Following the completion of the transaction, the director now directly owns 265,000 shares of the company’s stock, valued at approximately $15,865,550. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Stallings purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average price of $59.06 per share, for a total transaction of $118,120.00. Following the completion of the transaction, the director now directly owns 268,000 shares of the company’s stock, valued at $15,828,080. The disclosure for this purchase can be found here. Insiders have bought 17,000 shares of company stock worth $975,110 over the last ninety days. 0.99% of the stock is owned by corporate insiders.

Texas Capital Bancshares Price Performance

Shares of TCBI stock opened at $54.83 on Tuesday. The firm has a market cap of $2.63 billion, a P/E ratio of 7.37, a P/E/G ratio of 1.64 and a beta of 1.32. Texas Capital Bancshares, Inc. has a fifty-two week low of $42.79 and a fifty-two week high of $69.26. The business’s 50 day moving average price is $59.18 and its 200-day moving average price is $55.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.00 and a current ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.17. Texas Capital Bancshares had a return on equity of 7.83% and a net margin of 19.39%. The firm had revenue of $472.64 million for the quarter, compared to analyst estimates of $267.89 million. During the same period last year, the company earned $0.74 EPS. On average, equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 4.16 earnings per share for the current year.

Texas Capital Bancshares Profile

(Free Report)

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, and wealth management services.