Hodges Capital Management Inc. Increases Holdings in Texas Capital Bancshares

Hodges Capital Management Inc. has increased its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 6.6% in the third quarter, as per its latest filing with the Securities and Exchange Commission (SEC). The investment firm now holds 190,943 shares of the bank's stock after acquiring an additional 11,845 shares during this period. At the conclusion of the most recent quarter, Hodges Capital Management's holdings represented approximately 0.41% of Texas Capital Bancshares, valued at around $13,645,000.

Several other institutional investors and hedge funds have also recently made modifications to their positions in Texas Capital Bancshares. For instance, Innealta Capital LLC acquired a new stake in the bank during the second quarter, investing around $26,000. Blue Trust Inc. expanded its position in the third quarter by 89.9%, now owning 357 shares valued at $26,000 after purchasing an additional 169 shares. Additionally, Icon Wealth Advisors LLC and CWM LLC have also made new investments, with CWM increasing its position by 40.8% in the second quarter, now owning 949 shares worth $58,000.

Wall Street Analysts Forecast Growth

Recent analyst reports have brought positive attention to Texas Capital Bancshares. StockNews.com upgraded the stock from a "sell" rating to a "hold" rating on November 6th. Bank of America improved its rating from "underperform" to a "buy" rating and raised the price target from $51.00 to $77.00 in a report dated September 9th. Similarly, Keefe, Bruyette & Woods reiterated an "outperform" rating with a target price of $74.00 for the stock. Raymond James also upgraded its rating, giving the stock a target price of $78.00.

Overall, four analysts have assigned a sell rating, nine have issued a hold rating, and four have provided a buy rating for Texas Capital Bancshares. According to MarketBeat.com, the consensus rating for the company stands at "Hold," with an average price target of $74.69.

Texas Capital Bancshares Stock Performance

As of Friday, Texas Capital Bancshares' stock opened at $87.71. The company's stock has a 50-day simple moving average of $81.03 and a 200-day simple moving average of $69.51. The market capitalization stands at approximately $4.05 billion, with a price-to-earnings ratio of 487.28 and a price-to-earnings-growth ratio of 0.85. Additionally, the stock has shown a beta of 1.14 and a debt-to-equity ratio of 0.22. The current and quick ratios both equal 1.01. Throughout the year, Texas Capital Bancshares has experienced a low of $54.68 and a high of $91.80.

Texas Capital Bancshares recently reported its earnings on October 17th, announcing $1.62 earnings per share (EPS) for the quarter, surpassing the consensus estimate of $0.97 by $0.65. The bank's revenue for the quarter was $304.91 million, exceeding analysts' projections of $279.64 million. The return on equity was recorded at 8.06%, while the net margin stood at 1.40%. Analysts predict Texas Capital Bancshares will report an EPS of 4.15 for the current fiscal year.

Insider Activities

In related news, Director Robert W. Stallings made a significant purchase of 20,000 shares of the company's stock on October 22nd, at an average cost of $21.28 per share, amounting to a total investment of $425,600. After this transaction, Stallings holds 84,587 shares in Texas Capital Bancshares, valued at approximately $1,800,011.36. This acquisition highlights a 30.97% increase in his ownership, and the details can be found in a document filed with the SEC. Corporate insiders hold about 0.99% of the stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc. serves as the bank holding company for Texas Capital Bank. It operates as a full-service financial institution that provides tailored solutions to businesses, entrepreneurs, and individual customers. The company offers a wide range of services, including commercial and consumer banking, investment banking, wealth management, and various financial solutions.

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