SG Americas Securities LLC Lowers Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

SG Americas Securities LLC lessened its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 93.9% during the 4th quarter, HoldingsChannel reports. The firm owned 2,801 shares of the bank’s stock after selling 43,403 shares during the quarter. SG Americas Securities LLC’s holdings in Texas Capital Bancshares were worth $181,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Texas Capital Bancshares by 68.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,278,954 shares of the bank’s stock worth $119,964,000 after buying an additional 927,419 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Texas Capital Bancshares by 26.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,633,859 shares of the bank’s stock worth $219,159,000 after buying an additional 762,038 shares during the period. North Reef Capital Management LP raised its stake in shares of Texas Capital Bancshares by 99.2% during the 3rd quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock worth $85,405,000 after buying an additional 722,250 shares during the period. Norges Bank acquired a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $29,735,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Texas Capital Bancshares by 188.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 422,060 shares of the bank’s stock worth $24,188,000 after buying an additional 275,631 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Thomas E. Long purchased 2,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the acquisition, the director now owns 7,542 shares in the company, valued at approximately $443,318.76. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Robert W. Stallings bought 6,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was bought at an average cost of $18.64 per share, for a total transaction of $111,840.00. Following the acquisition, the director now directly owns 146,706 shares of the company’s stock, valued at approximately $2,734,599.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas E. Long bought 2,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average price of $58.78 per share, with a total value of $117,560.00. Following the completion of the acquisition, the director now directly owns 7,542 shares in the company, valued at $443,318.76. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 28,000 shares of company stock worth $612,850. 0.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TCBI has been the subject of several research analyst reports. Royal Bank of Canada reduced their target price on Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. Mizuho reissued a “hold” rating and issued a $66.00 price objective (down from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. Stephens increased their price objective on Texas Capital Bancshares from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Citigroup reduced their price objective on Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus target price of $64.45.

Texas Capital Bancshares Stock Down 1.0 %

Shares of NASDAQ:TCBI opened at $56.52 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $59.17 and a two-hundred day moving average of $59.08. The stock has a market cap of $2.68 billion, a P/E ratio of 15.97, a PEG ratio of 1.99 and a beta of 1.19. Texas Capital Bancshares, Inc. has a 52-week low of $42.79 and a 52-week high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, January 18th. The bank reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.24). The business had revenue of $245.85 million for the quarter, compared to analysts’ expectations of $251.96 million. Texas Capital Bancshares had a return on equity of 7.28% and a net margin of 10.56%. During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, research analysts expect that Texas Capital Bancshares, Inc. will post 3.55 earnings per share for the current year.

Texas Capital Bancshares Company 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.