Paloma Partners Management Co Raises Stake in Texas Capital Bancshares Inc (TCBI)
Paloma Partners Management Co grew its holdings in Texas Capital Bancshares Inc (NASDAQ:TCBI) by 2,149.6% during the second quarter, HoldingsChannel.com reports. The fund owned 149,169 shares of the bank’s stock after purchasing an additional 142,538 shares during the quarter. Paloma Partners Management Co’s holdings in Texas Capital Bancshares were worth $13,649,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in Texas Capital Bancshares during the 2nd quarter worth $119,000. Commonwealth Equity Services LLC purchased a new stake in Texas Capital Bancshares during the 1st quarter worth $222,000. Sentry Investments Corp. purchased a new stake in Texas Capital Bancshares during the 1st quarter worth $224,000. WINTON GROUP Ltd purchased a new stake in Texas Capital Bancshares during the 1st quarter worth $250,000. Finally, ING Groep NV purchased a new stake in Texas Capital Bancshares during the 1st quarter worth $311,000.
Several equities research analysts recently issued reports on TCBI shares. BidaskClub downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, May 26th. Stephens reaffirmed a “hold” rating and set a $105.00 price target on shares of Texas Capital Bancshares in a research note on Monday, June 18th. Royal Bank of Canada reaffirmed a “buy” rating and set a $110.00 price target on shares of Texas Capital Bancshares in a research note on Friday, July 20th. Jefferies Financial Group reaffirmed a “buy” rating and set a $105.00 price target on shares of Texas Capital Bancshares in a research note on Friday, July 20th. Finally, Zacks Investment Research raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research note on Monday, September 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Texas Capital Bancshares currently has an average rating of “Hold” and an average target price of $106.47.
TCBI opened at $89.05 on Tuesday. The stock has a market capitalization of $4.51 billion, a PE ratio of 21.83, a P/E/G ratio of 1.30 and a beta of 1.77. Texas Capital Bancshares Inc has a 1-year low of $72.05 and a 1-year high of $103.05. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 2.00.
Texas Capital Bancshares (NASDAQ:TCBI) last released its 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). The company had revenue of $248.99 million during the quarter, compared to the consensus estimate of $242.58 million. Texas Capital Bancshares had a return on equity of 12.51% and a net margin of 22.15%. During the same period in the previous year, the firm posted $0.97 EPS. equities analysts expect that Texas Capital Bancshares Inc will post 6.12 EPS for the current 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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