Invesco Ltd. Reduces Stake in Texas Capital Bancshares, Inc. $TCBI

Invesco Ltd. decreased its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 78.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 111,577 shares of the bank’s stock after selling 403,561 shares during the period. Invesco Ltd. owned 0.24% of Texas Capital Bancshares worth $8,335,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Texas Capital Bancshares during the 1st quarter worth about $528,000. Nomura Holdings Inc. purchased a new stake in Texas Capital Bancshares during the 4th quarter worth about $479,000. Bank of America Corp DE lifted its holdings in Texas Capital Bancshares by 25.0% during the 4th quarter. Bank of America Corp DE now owns 198,906 shares of the bank’s stock worth $15,554,000 after purchasing an additional 39,832 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Texas Capital Bancshares during the 1st quarter worth about $16,938,000. Finally, Edgestream Partners L.P. lifted its holdings in Texas Capital Bancshares by 28.8% during the 1st quarter. Edgestream Partners L.P. now owns 131,139 shares of the bank’s stock worth $9,796,000 after purchasing an additional 29,341 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $86.16 on Tuesday. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 0.73 and a beta of 0.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $94.61. The stock’s 50-day moving average is $83.37 and its 200 day moving average is $76.66.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.35. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.The company had revenue of $307.46 million for the quarter, compared to analysts’ expectations of $298.90 million. During the same period last year, the firm posted $0.80 EPS. On average, sell-side analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,500 shares of Texas Capital Bancshares stock in a transaction that occurred 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 transaction, the director directly owned 60,000 shares in the company, valued at $1,216,800. The trade was a 21.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TCBI shares. Wall Street Zen raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. Keefe, Bruyette & Woods raised their price target on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Jefferies Financial Group set a $80.00 price target on Texas Capital Bancshares and gave the company a “hold” rating in a report on Wednesday, May 21st. Barclays raised their price target on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an “underweight” rating in a report on Friday, July 18th. Finally, Citigroup raised their price target on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $83.50.

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.