Gabelli Funds LLC Acquires 1,150 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Gabelli Funds LLC raised its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,950 shares of the bank’s stock after buying an additional 1,150 shares during the quarter. Gabelli Funds LLC’s holdings in Texas Capital Bancshares were worth $934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TCBI. Picton Mahoney Asset Management bought a new stake in Texas Capital Bancshares in the 4th quarter valued at $30,000. Assetmark Inc. bought a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at about $32,000. Venturi Wealth Management LLC acquired a new position in shares of Texas Capital Bancshares during the fourth quarter worth about $37,000. R Squared Ltd bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth about $41,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth about $115,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 7,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $20.43 per share, with a total value of $143,010.00. Following the completion of the acquisition, the director now owns 49,500 shares of the company’s stock, valued at $1,011,285. This represents a 16.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have bought 29,402 shares of company stock worth $653,787. Company insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $66.03 on Friday. The company has a market cap of $3.05 billion, a P/E ratio of 51.59, a P/E/G ratio of 0.75 and a beta of 0.74. The firm’s fifty day moving average price is $73.26 and its two-hundred day moving average price is $78.06. Texas Capital Bancshares, Inc. has a one year low of $56.24 and a one year high of $91.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). The company had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. Equities analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TCBI has been the subject of a number of recent research reports. Hovde Group reduced their price target on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, March 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 target price (down previously from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. DA Davidson reduced their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a research report on Friday, January 24th. Finally, StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $80.36.

Texas Capital Bancshares Profile

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 solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.