Russell Investments Group Ltd. reduced its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ: TCBI – Get Rating) by 13.0% during the first quarter, according to the company in its latest filing with the Securities & Exchange Commission. The company held 58,188 shares of the bank after selling 8,726 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Texas Capital Banc shares worth $3,333,000 at the end of the last quarter.
A number of other institutional investors and hedge funds also changed their positions in TCBI. Exane Derivatives acquired a new equity stake from Texas Capital Bancshares in Q1 for approximately $108,000. Carl Stuart Investment Advisor Inc. bought a new position in Texas Capital Bancshares in Q1 worth approximately $115,000. Profund Advisors LLC increased its holdings in Texas Capital Bancshares by 5.2% in the fourth quarter. Profund Advisors LLC now owns 3,934 shares of the bank valued at $237,000 after buying 196 additional shares in the last quarter. Inspire Investing LLC bought a new position in Texas Capital Bancshares in Q1 worth approximately $237,000. Finally, Verdence Capital Advisors LLC increased its stake in Texas Capital Bancshares by 17.3% in the 1st quarter. Verdence Capital Advisors LLC now owns 4,637 shares of the bank valued at $266,000 after buying 683 additional shares last quarter. 97.77% of the shares are held by institutional investors and hedge funds.
A Wall Street analyst gives his opinion
A number of research analysts have published reports on TCBI shares. StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Saturday, July 30, report. Truist Financial cut its price target on shares of Texas Capital Bancshares from $69.00 to $65.00 and set a “buy” rating on the stock in a Wednesday, June 15 report. TheStreet downgraded shares of Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 report. Stephens raised his target price on shares of Texas Capital Bancshares to $66.00 in a Friday, July 22 research report. Finally, Wedbush raised its target price on shares of Texas Capital Bancshares to $60.00 in a Monday, July 25 research report. One equity research analyst gave the stock a sell rating, four gave the company a hold rating, one gave the company a buy rating and one gave the company a high buy rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.67.
Texas Capital Bancshares Stock up 0.7%
TCBI opened at $63.39 on Friday. The company has a debt ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.02. Texas Capital Bancshares, Inc. has a 1-year low of $48.79 and a 1-year high of $71.60. The company has a 50-day moving average price of $55.14 and a 200-day moving average price of $57.71. The company has a market capitalization of $3.16 billion, a PE ratio of 19.63, a growth price-earnings ratio of 2.25 and a beta of 1.53.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last released quarterly earnings data on Thursday, July 21. The bank reported earnings per share (EPS) of $0.59 for the quarter, missing the consensus estimate of $0.74 per ($0.15). Texas Capital Bancshares had a net margin of 18.42% and a return on equity of 6.48%. In the same quarter last year, the company posted earnings per share of $1.31. Sell-side analysts expect Texas Capital Bancshares, Inc. to post earnings per share of 3.42 for the current year.
Insider Buying and Selling at Texas Capital Bancshares
In other news, Ragusa manager Elysia Holt acquired 2,000 shares in a trade on Thursday, June 2. The stock was purchased at an average price of $55.91 per share, with a total value of $111,820.00. Following completion of the transaction, the administrator now directly owns 14,164 shares of the company, valued at $791,909.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. In other Texas Capital Bancshares news, Director Elysia Holt Ragusa purchased 2,000 shares of Texas Capital Bancshares in a trade dated Thursday, June 2. The stock was purchased at an average price of $55.91 per share, for a total transaction of $111,820.00. As a result of the purchase, the administrator now owns 14,164 shares of the company, valued at approximately $791,909.24. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In addition, director Robert W. Stallings purchased 42,000 shares of Texas Capital Bancshares in a transaction dated Friday, July 22. The shares were acquired at an average price of $56.57 per share, with a total value of $2,375,940.00. Following the completion of the purchase, the administrator now owns 111,725 shares of the company, valued at approximately $6,320,283.25. Disclosure of this purchase can be found here. Insiders bought 51,705 shares of the company valued at $2,813,783 over the past 90 days. 0.56% of the shares are held by insiders.
About Texas Capital Bancshares
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Texas Capital Bancshares, Inc. operates as a bank holding company for Texas Capital Bank, is a full-service financial services company that provides customized solutions to businesses, entrepreneurs and individuals. The Company offers commercial banking, retail banking, investment banking and wealth management.
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