Nuveen Asset Management LLC Decreases Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Posted by Defense World Staff on Mar 9th, 2023

Nuveen Asset Management LLC lessened its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 201,391 shares of the bank’s stock after selling 16,033 shares during the period. Nuveen Asset Management LLC owned approximately 0.40% of Texas Capital Bancshares worth $11,889,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wipfli Financial Advisors LLC purchased a new stake in Texas Capital Bancshares in the third quarter valued at about $35,000. Eagle Bay Advisors LLC grew its holdings in Texas Capital Bancshares by 65.9% in the second quarter. Eagle Bay Advisors LLC now owns 720 shares of the bank’s stock valued at $38,000 after purchasing an additional 286 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Texas Capital Bancshares by 60.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,044 shares of the bank’s stock valued at $120,000 after purchasing an additional 767 shares during the period. Pictet Asset Management SA acquired a new stake in shares of Texas Capital Bancshares in the third quarter worth approximately $201,000. Finally, Point72 Hong Kong Ltd boosted its stake in shares of Texas Capital Bancshares by 80.3% in the first quarter. Point72 Hong Kong Ltd now owns 3,895 shares of the bank’s stock worth $223,000 after acquiring an additional 1,735 shares during the last quarter. Hedge funds and other institutional investors own 96.91% of the company’s stock.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $64.75 on Thursday. Texas Capital Bancshares, Inc. has a 52 week low of $48.79 and a 52 week high of $69.26. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $3.12 billion, a P/E ratio of 10.36, a P/E/G ratio of 2.06 and a beta of 1.31. The stock’s fifty day moving average is $64.27 and its two-hundred day moving average is $61.18.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TCBI. JPMorgan Chase & Co. lifted their price target on Texas Capital Bancshares from $50.00 to $55.00 and gave the stock an “underweight” rating in a research note on Monday, January 23rd. TheStreet raised Texas Capital Bancshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 18th. DA Davidson reissued a “neutral” rating on shares of Texas Capital Bancshares in a research note on Wednesday, December 21st. Truist Financial boosted their price objective on Texas Capital Bancshares from $68.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, January 20th. Finally, StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.89.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, February 21st. The shares were bought at an average price of $21.18 per share, for a total transaction of $211,800.00. Following the completion of the transaction, the director now directly owns 45,000 shares of the company’s stock, valued at $953,100. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Robert W. Stallings acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The shares were purchased at an average price of $21.18 per share, for a total transaction of $211,800.00. Following the acquisition, the director now owns 45,000 shares of the company’s stock, valued at $953,100. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert W. Stallings acquired 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 24th. The stock was purchased at an average price of $22.14 per share, for a total transaction of $132,840.00. Following the acquisition, the director now directly owns 26,000 shares in the company, valued at approximately $575,640. The disclosure for this purchase can be found here. Insiders have acquired 19,888 shares of company stock worth $430,333 over the last quarter. 0.56% of the stock is currently owned by company insiders.

Texas Capital Bancshares Profile

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Texas Capital Bancshares, Inc is the holding company of Texas Capital Bank, which engages in the provision of financial services and customized solutions to businesses, entrepreneurs, and individual customers. The company was founded by George F. Jones, Jr. and Joseph M. Grant in November 1996 and is headquartered in Dallas, TX.