Federated Hermes Inc. Reduces Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Federated Hermes Inc. trimmed its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,811 shares of the bank’s stock after selling 311 shares during the quarter. Federated Hermes Inc.’s holdings in Texas Capital Bancshares were worth $246,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TCBI. Wellington Management Group LLP lifted its holdings in shares of Texas Capital Bancshares by 78.0% in the 3rd quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock valued at $32,937,000 after buying an additional 245,074 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Texas Capital Bancshares in the 4th quarter worth approximately $873,000. Walleye Capital LLC grew its stake in shares of Texas Capital Bancshares by 63.9% during the 3rd quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock worth $10,267,000 after purchasing an additional 67,964 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Texas Capital Bancshares by 131.9% during the 3rd 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 in the last quarter. Finally, First Dallas Securities Inc. acquired a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at $1,178,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Activity at Texas Capital Bancshares

In related news, Director Thomas E. Long purchased 2,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 7,542 shares in the company, valued at $443,318.76. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.99% of the stock is owned by insiders.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $60.58 on Monday. Texas Capital Bancshares, Inc. has a 52 week low of $42.79 and a 52 week high of $66.18. The stock’s fifty day moving average is $58.91 and its two-hundred day moving average is $59.06. The company has a market capitalization of $2.83 billion, a P/E ratio of 18.36, a P/E/G ratio of 2.15 and a beta of 1.17. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

Analyst Upgrades and Downgrades

TCBI has been the topic of several recent analyst reports. UBS Group increased their target price on shares of Texas Capital Bancshares from $56.00 to $57.00 and gave the stock a “sell” rating in a research note on Tuesday, January 23rd. Mizuho reiterated a “hold” rating and set a $66.00 target price (down previously from $72.00) on shares of Texas Capital Bancshares in a research report on Monday, April 1st. Jefferies Financial Group decreased their price objective on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Royal Bank of Canada decreased their price target on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. decreased their target price on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.58.

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.