Peregrine Capital Management LLC Makes New Investment in Texas Capital Bancshares, Inc. $TCBI

Peregrine Capital Management LLC acquired a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 3rd quarter, Holdings Channel reports. The firm acquired 61,353 shares of the bank’s stock, valued at approximately $5,186,000.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Texas Capital Bancshares by 7.1% during the second quarter. AQR Capital Management LLC now owns 1,534,446 shares of the bank’s stock worth $121,636,000 after acquiring an additional 101,675 shares in the last quarter. Azora Capital LP raised its holdings in shares of Texas Capital Bancshares by 141.3% during the second quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock valued at $73,843,000 after purchasing an additional 544,590 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Texas Capital Bancshares by 12.3% during the second quarter. Bank of New York Mellon Corp now owns 657,626 shares of the bank’s stock valued at $52,216,000 after purchasing an additional 71,774 shares during the period. Norges Bank bought a new position in shares of Texas Capital Bancshares during the 2nd quarter worth about $45,364,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Texas Capital Bancshares by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock valued at $41,837,000 after buying an additional 20,231 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TCBI shares. Hovde Group upped their price target on Texas Capital Bancshares from $85.00 to $93.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. TD Cowen upgraded Texas Capital Bancshares to a “hold” rating in a report on Thursday, September 25th. Keefe, Bruyette & Woods upped their target price on Texas Capital Bancshares from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Piper Sandler increased their target price on Texas Capital Bancshares from $84.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings raised shares of Texas Capital Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $91.90.

Texas Capital Bancshares Trading Down 0.3%

NASDAQ TCBI opened at $97.19 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $90.91 and a 200 day simple moving average of $86.79. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $98.31. The firm has a market capitalization of $4.44 billion, a P/E ratio of 15.91, a PEG ratio of 0.69 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, October 22nd. The bank reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.41. The firm had revenue of $340.35 million during the quarter, compared to analyst estimates of $327.13 million. Texas Capital Bancshares had a net margin of 15.14% and a return on equity of 9.51%. The business’s revenue was up 171.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.41) EPS. On average, analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 5,000 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was purchased at an average price of $20.68 per share, for a total transaction of $103,400.00. Following the purchase, the director owned 275,913 shares in the company, valued at approximately $5,705,880.84. This represents a 1.85% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.