Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 9.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 936,832 shares of the bank’s stock after selling 100,617 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.03% of Texas Capital Bancshares worth $57,278,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. SummerHaven Investment Management LLC grew its holdings in shares of Texas Capital Bancshares by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank’s stock worth $828,000 after acquiring an additional 257 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in shares of Texas Capital Bancshares by 11.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 5,257 shares of the bank’s stock worth $321,000 after acquiring an additional 546 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Texas Capital Bancshares by 1,905.7% in the 2nd quarter. SG Americas Securities LLC now owns 78,864 shares of the bank’s stock worth $4,822,000 after acquiring an additional 74,932 shares during the last quarter. CWM LLC boosted its position in shares of Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after buying an additional 275 shares during the period. Finally, First Hawaiian Bank acquired a new stake in shares of Texas Capital Bancshares in the second quarter worth $675,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Trading Up 1.0 %

Shares of TCBI opened at $67.22 on Friday. Texas Capital Bancshares, Inc. has a 12-month low of $52.89 and a 12-month high of $72.07. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 2.99 and a beta of 1.15. The stock’s 50-day moving average price is $63.08 and its 200 day moving average price is $60.50.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The company had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same quarter in the prior year, the company posted $1.33 earnings per share. As a group, research analysts predict that Texas Capital Bancshares, Inc. will post 3.31 earnings per share for the current year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 14,000 shares of Texas Capital Bancshares stock in a transaction on Wednesday, July 31st. The shares were purchased at an average price of $19.93 per share, with a total value of $279,020.00. Following the acquisition, the director now owns 55,294 shares in the company, valued at $1,102,009.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Robert W. Stallings acquired 4,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was acquired at an average price of $20.62 per share, for a total transaction of $82,480.00. Following the transaction, the director now directly owns 12,794 shares in the company, valued at $263,812.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Stallings acquired 14,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average price of $19.93 per share, with a total value of $279,020.00. Following the transaction, the director now owns 55,294 shares in the company, valued at $1,102,009.42. The disclosure for this purchase can be found here. Insiders have acquired 43,500 shares of company stock valued at $876,400 in the last three months. 0.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on TCBI shares. Truist Financial raised their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Wedbush raised their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Stephens raised their target price on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. raised their target price on Texas Capital Bancshares from $63.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Citigroup reissued a “sell” rating and set a $60.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $65.19.

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.