Arizona State Retirement System Sells 150 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Arizona State Retirement System reduced its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBIFree Report) by 1.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 13,251 shares of the bank’s stock after selling 150 shares during the period. Arizona State Retirement System’s holdings in Texas Capital Bancshares were worth $990,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its holdings in Texas Capital Bancshares by 1.9% in the first quarter. Envestnet Asset Management Inc. now owns 10,838 shares of the bank’s stock valued at $810,000 after purchasing an additional 207 shares during the period. Moody National Bank Trust Division grew its stake in Texas Capital Bancshares by 1.5% in the 1st quarter. Moody National Bank Trust Division now owns 17,626 shares of the bank’s stock valued at $1,317,000 after purchasing an additional 255 shares during the period. Xponance Inc. raised its holdings in shares of Texas Capital Bancshares by 4.8% in the 4th 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. Beacon Pointe Advisors LLC lifted its stake in shares of Texas Capital Bancshares by 1.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 18,825 shares of the bank’s stock valued at $1,472,000 after buying an additional 350 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Texas Capital Bancshares by 4.6% in 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. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of Texas Capital Bancshares stock in a transaction on Wednesday, June 11th. The shares were acquired at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the transaction, the director directly owned 60,000 shares of the company’s stock, valued at approximately $1,216,800. The trade was a 21.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 25,300 shares of company stock worth $769,990 in the last three months. 1.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TCBI. Stephens cut their price objective on Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Raymond James Financial lowered their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Hovde Group lifted their price target on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a “market perform” rating in a report on Friday. Piper Sandler dropped their price objective on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Finally, Barclays upped their target price on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an “underweight” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of “Hold” and an average target price of $82.50.

Get Our Latest Stock Report on TCBI

Texas Capital Bancshares Stock Up 0.3%

NASDAQ:TCBI opened at $89.73 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $78.23 and its two-hundred day moving average price is $75.66. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 35.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.66. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBIGet Free Report) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.35. The company had revenue of $307.46 million for the quarter, compared to analyst estimates of $298.90 million. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. During the same period in the previous year, the firm posted $0.80 EPS. Equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Texas Capital Bancshares Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Texas Capital Bancshares (NASDAQ:TCBI)

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