Cerity Partners LLC Trims Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Cerity Partners LLC decreased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,776 shares of the bank’s stock after selling 338 shares during the period. Cerity Partners LLC’s holdings in Texas Capital Bancshares were worth $282,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TCBI. Amalgamated Bank increased its holdings in shares of Texas Capital Bancshares by 0.8% in the fourth quarter. Amalgamated Bank now owns 20,791 shares of the bank’s stock valued at $1,626,000 after purchasing an additional 166 shares during the last quarter. Xponance Inc. increased its stake in Texas Capital Bancshares by 4.8% during the fourth quarter. Xponance Inc. now owns 6,569 shares of the bank’s stock worth $514,000 after purchasing an additional 300 shares during the period. Savant Capital LLC increased its position in shares of Texas Capital Bancshares by 5.7% during the fourth quarter. Savant Capital LLC now owns 5,604 shares of the bank’s stock worth $438,000 after acquiring an additional 303 shares during the period. Picton Mahoney Asset Management purchased a new stake in Texas Capital Bancshares during the 4th quarter worth about $30,000. Finally, LPL Financial LLC grew its position in shares of Texas Capital Bancshares by 4.6% during the fourth quarter. LPL Financial LLC now owns 8,776 shares of the bank’s stock worth $686,000 after buying an additional 382 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TCBI. JPMorgan Chase & Co. cut their price target on Texas Capital Bancshares from $78.00 to $70.00 and set an “underweight” rating on the stock in a research note on Monday. Stephens dropped their price objective on Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Barclays dropped their price target on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Piper Sandler reduced their target price on Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating for the company in a report on Monday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares has an average rating of “Hold” and an average target price of $76.64.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 2,006 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was purchased at an average cost of $20.99 per share, for a total transaction of $42,105.94. Following the completion of the acquisition, the director now owns 182,899 shares of the company’s stock, valued at approximately $3,839,050.01. This trade represents a 1.11 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased 33,902 shares of company stock valued at $943,002 over the last three months. 1.72% of the stock is owned by corporate insiders.

Texas Capital Bancshares Trading Up 2.0 %

NASDAQ:TCBI opened at $67.19 on Thursday. The business has a 50 day simple moving average of $72.29 and a 200 day simple moving average of $77.90. The firm has a market capitalization of $3.10 billion, a P/E ratio of 52.49, a P/E/G ratio of 0.75 and a beta of 0.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares, Inc. has a 12-month low of $56.24 and a 12-month high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). The firm had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. 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.