Raymond James & Associates Has $569,000 Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Raymond James & Associates reduced its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 54.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,797 shares of the bank’s stock after selling 10,530 shares during the period. Raymond James & Associates’ holdings in Texas Capital Bancshares were worth $569,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Texas Capital Bancshares by 78.0% during the 3rd quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock worth $32,937,000 after buying an additional 245,074 shares during the period. Walleye Capital LLC raised its holdings in shares of Texas Capital Bancshares by 63.9% in the third quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock valued at $10,267,000 after purchasing an additional 67,964 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Texas Capital Bancshares by 131.9% in the third quarter. New York State Common Retirement Fund now owns 150,829 shares of the bank’s stock valued at $8,884,000 after purchasing an additional 85,793 shares during the last quarter. First Dallas Securities Inc. acquired a new stake in shares of Texas Capital Bancshares in the third quarter valued at approximately $1,178,000. Finally, North Reef Capital Management LP raised its holdings in shares of Texas Capital Bancshares by 99.2% in the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock valued at $85,405,000 after purchasing an additional 722,250 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TCBI has been the topic of a number of recent research reports. Hovde Group lowered their price objective on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a report on Friday, April 19th. Royal Bank of Canada lowered their price objective on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Citigroup lowered their price objective on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. UBS Group lifted their price objective on shares of Texas Capital Bancshares from $56.00 to $57.00 and gave the company a “sell” rating in a report on Tuesday, January 23rd. Finally, Wedbush lowered their target price on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.58.

Insiders Place Their Bets

In related news, Director Robert W. Stallings acquired 5,000 shares of Texas Capital Bancshares stock in a transaction on Friday, February 2nd. The stock was purchased at an average cost of $18.81 per share, with a total value of $94,050.00. Following the completion of the transaction, the director now directly owns 140,706 shares in the company, valued at approximately $2,646,679.86. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Thomas E. Long acquired 2,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, with a total value of $117,560.00. Following the completion of the transaction, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert W. Stallings acquired 5,000 shares of Texas Capital Bancshares stock in a transaction on Friday, February 2nd. The shares were bought at an average cost of $18.81 per share, with a total value of $94,050.00. Following the completion of the transaction, the director now owns 140,706 shares of the company’s stock, valued at $2,646,679.86. The disclosure for this purchase can be found here. Insiders purchased a total of 18,000 shares of company stock valued at $422,650 over the last ninety days. 0.99% of the stock is currently owned by company insiders.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $58.61 on Friday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 2.11 and a beta of 1.19. Texas Capital Bancshares, Inc. has a 1-year low of $42.79 and a 1-year high of $66.18. The company’s fifty day simple moving average is $58.97 and its 200 day simple moving average is $59.05. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

About Texas Capital Bancshares

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.