Arizona State Retirement System Sells 212 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Arizona State Retirement System reduced its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,418 shares of the bank’s stock after selling 212 shares during the quarter. Arizona State Retirement System’s holdings in Texas Capital Bancshares were worth $867,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TCBI. Raymond James Financial Services Advisors Inc. bought a new stake in Texas Capital Bancshares in the first quarter worth approximately $261,000. HighTower Advisors LLC increased its holdings in Texas Capital Bancshares by 3.7% in the first quarter. HighTower Advisors LLC now owns 9,383 shares of the bank’s stock worth $537,000 after purchasing an additional 337 shares in the last quarter. Natixis Advisors L.P. increased its holdings in Texas Capital Bancshares by 3.1% in the first quarter. Natixis Advisors L.P. now owns 10,722 shares of the bank’s stock worth $614,000 after purchasing an additional 326 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Texas Capital Bancshares by 39.3% during the first quarter. MetLife Investment Management LLC now owns 58,686 shares of the bank’s stock valued at $3,363,000 after acquiring an additional 16,567 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Texas Capital Bancshares by 0.8% during the first quarter. Rhumbline Advisers now owns 163,297 shares of the bank’s stock valued at $9,359,000 after acquiring an additional 1,327 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 5,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were acquired at an average price of $19.09 per share, with a total value of $95,450.00. Following the completion of the transaction, the director now owns 117,706 shares in the company, valued at $2,247,007.54. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 6,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were acquired at an average price of $18.64 per share, with a total value of $111,840.00. Following the completion of the transaction, the director now owns 146,706 shares in the company, valued at $2,734,599.84. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert W. Stallings acquired 5,000 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was acquired at an average cost of $19.09 per share, for a total transaction of $95,450.00. Following the transaction, the director now owns 117,706 shares of the company’s stock, valued at approximately $2,247,007.54. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 28,000 shares of company stock valued at $612,850. Insiders own 1.53% of the company’s stock.

Texas Capital Bancshares Trading Down 1.6 %

Shares of Texas Capital Bancshares stock opened at $55.51 on Wednesday. The stock has a fifty day simple moving average of $59.03 and a 200 day simple moving average of $59.04. Texas Capital Bancshares, Inc. has a 12-month low of $42.79 and a 12-month high of $66.18. The company has a market capitalization of $2.63 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TCBI shares. JPMorgan Chase & Co. decreased their price objective on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Stephens boosted their price objective on Texas Capital Bancshares from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Truist Financial downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating and decreased their price objective for the company from $72.00 to $66.00 in a report on Monday, April 1st. Barclays started coverage on Texas Capital Bancshares in a report on Friday, March 8th. They set an “underweight” rating and a $47.00 price objective for the company. Finally, Royal Bank of Canada decreased their price objective on Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.45.

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.