Alliancebernstein L.P. increased its stake in shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) by 31.2% in the third quarter, HoldingsChannel.com reports. The firm owned 1,586,926 shares of the bank’s stock after buying an additional 377,750 shares during the quarter. Alliancebernstein L.P.’s holdings in Texas Capital Bancshares were worth $131,159,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in TCBI. Point72 Asset Management L.P. acquired a new position in Texas Capital Bancshares in the second quarter valued at about $119,000. Cerebellum GP LLC acquired a new position in Texas Capital Bancshares in the third quarter valued at about $172,000. First Mercantile Trust Co. grew its stake in Texas Capital Bancshares by 50.8% in the third quarter. First Mercantile Trust Co. now owns 3,198 shares of the bank’s stock valued at $264,000 after acquiring an additional 1,078 shares during the period. US Bancorp DE grew its stake in Texas Capital Bancshares by 55.6% in the third quarter. US Bancorp DE now owns 3,508 shares of the bank’s stock valued at $290,000 after acquiring an additional 1,254 shares during the period. Finally, Capital Management Associates NY acquired a new position in Texas Capital Bancshares in the second quarter valued at about $329,000.

In related news, CEO C Keith Cargill bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The shares were acquired at an average price of $67.59 per share, for a total transaction of $202,770.00. Following the completion of the acquisition, the chief executive officer now owns 90,880 shares of the company’s stock, valued at approximately $6,142,579.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vince A. Ackerson bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The shares were bought at an average price of $67.00 per share, for a total transaction of $134,000.00. Following the acquisition, the insider now directly owns 28,485 shares of the company’s stock, valued at approximately $1,908,495. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

A number of research firms have issued reports on TCBI. BidaskClub cut Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 28th. ValuEngine cut Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 18th. Zacks Investment Research cut Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Wedbush set a $94.00 target price on Texas Capital Bancshares and gave the company a “buy” rating in a research note on Thursday, October 18th. Finally, Raymond James cut their price target on Texas Capital Bancshares from $105.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $96.82.

Shares of Texas Capital Bancshares stock opened at $57.89 on Wednesday. The stock has a market capitalization of $3.02 billion, a PE ratio of 14.19, a PEG ratio of 0.97 and a beta of 1.86. Texas Capital Bancshares Inc has a one year low of $57.70 and a one year high of $103.05. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.21 and a current ratio of 1.29.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, October 17th. The bank reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.07). The firm had revenue of $257.69 million during the quarter, compared to the consensus estimate of $257.14 million. Texas Capital Bancshares had a net margin of 23.10% and a return on equity of 13.36%. During the same quarter last year, the firm earned $1.12 earnings per share. Analysts predict that Texas Capital Bancshares Inc will post 6.01 earnings per share for the current fiscal year.

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Texas Capital Bancshares Company 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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Want to see what other hedge funds are holding TCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Capital Bancshares Inc (NASDAQ:TCBI).

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

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