Penn Capital Management Co. Inc. Grows Holdings in Texas Capital Bancshares, Inc. (TCBI)
Penn Capital Management Co. Inc. boosted its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 259,115 shares of the bank’s stock after purchasing an additional 21,109 shares during the quarter. Texas Capital Bancshares comprises about 1.5% of Penn Capital Management Co. Inc.’s portfolio, making the stock its 5th biggest position. Penn Capital Management Co. Inc. owned 0.52% of Texas Capital Bancshares worth $20,085,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TCBI. Russell Investments Group Ltd. increased its holdings in Texas Capital Bancshares by 75.0% during the 1st quarter. Russell Investments Group Ltd. now owns 79,745 shares of the bank’s stock worth $6,655,000 after purchasing an additional 34,168 shares during the period. Canada Pension Plan Investment Board increased its holdings in Texas Capital Bancshares by 88.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock worth $142,000 after purchasing an additional 800 shares during the period. US Bancorp DE increased its holdings in Texas Capital Bancshares by 72.4% during the 1st quarter. US Bancorp DE now owns 3,821 shares of the bank’s stock worth $318,000 after purchasing an additional 1,605 shares during the period. Suntrust Banks Inc. increased its holdings in Texas Capital Bancshares by 2.4% during the 1st quarter. Suntrust Banks Inc. now owns 4,451 shares of the bank’s stock worth $371,000 after purchasing an additional 106 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in Texas Capital Bancshares by 24.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 17,842 shares of the bank’s stock worth $1,489,000 after purchasing an additional 3,516 shares during the period.
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Texas Capital Bancshares, Inc. (TCBI) traded up 0.19% during mid-day trading on Wednesday, hitting $80.55. The stock had a trading volume of 99,415 shares. The stock has a market cap of $4.00 billion, a P/E ratio of 22.36 and a beta of 1.67. The firm has a 50-day moving average of $75.53 and a 200-day moving average of $77.98. Texas Capital Bancshares, Inc. has a 52-week low of $51.95 and a 52-week high of $93.35.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, July 19th. The bank reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $201.73 million for the quarter, compared to analyst estimates of $197.10 million. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. During the same quarter in the prior year, the company posted $0.78 earnings per share. On average, analysts forecast that Texas Capital Bancshares, Inc. will post $4.01 EPS for the current fiscal year.
In other Texas Capital Bancshares news, insider C Keith Cargill bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $74.15 per share, with a total value of $222,450.00. Following the completion of the acquisition, the insider now directly owns 80,286 shares of the company’s stock, valued at approximately $5,953,206.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.47% of the company’s stock.
Several research analysts have commented on the company. BidaskClub downgraded Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Tuesday. ValuEngine upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Hovde Group raised their price objective on Texas Capital Bancshares from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, August 1st. Finally, Stephens restated a “hold” rating and set a $84.00 price objective on shares of Texas Capital Bancshares in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $87.07.
Texas Capital Bancshares Profile
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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