Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,667 shares of the bank’s stock after selling 157 shares during the period. Legal & General Group Plc owned approximately 0.16% of Texas Capital Bancshares worth $5,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE raised its holdings in Texas Capital Bancshares by 1,575.0% in the fourth quarter. US Bancorp DE now owns 10,519 shares of the bank’s stock valued at $823,000 after buying an additional 9,891 shares during the period. Victory Capital Management Inc. raised its stake in shares of Texas Capital Bancshares by 37.5% in the 4th quarter. Victory Capital Management Inc. now owns 96,397 shares of the bank’s stock valued at $7,538,000 after acquiring an additional 26,294 shares during the period. Barclays PLC lifted its holdings in shares of Texas Capital Bancshares by 19.6% during the 3rd quarter. Barclays PLC now owns 108,950 shares of the bank’s stock valued at $7,786,000 after acquiring an additional 17,863 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Texas Capital Bancshares in the 4th quarter valued at $1,688,000. Finally, Sei Investments Co. increased its holdings in Texas Capital Bancshares by 7.9% in the 4th quarter. Sei Investments Co. now owns 74,367 shares of the bank’s stock valued at $5,815,000 after purchasing an additional 5,442 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TCBI. Barclays decreased their target price on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $95.00 price objective (down previously from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. Stephens decreased their target price on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, DA Davidson cut their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $80.36.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 7,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $20.43 per share, with a total value of $143,010.00. Following the completion of the acquisition, the director now owns 49,500 shares in the company, valued at $1,011,285. The trade was a 16.47 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 29,402 shares of company stock worth $653,787 over the last ninety days. Company insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Stock Performance

TCBI stock opened at $66.03 on Monday. The stock’s 50 day simple moving average is $73.26 and its 200 day simple moving average is $78.12. Texas Capital Bancshares, Inc. has a 12-month low of $56.24 and a 12-month high of $91.80. The firm has a market cap of $3.05 billion, a P/E ratio of 51.59, a P/E/G ratio of 0.75 and a beta of 0.74. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. The business had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. As a group, equities research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

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.