HighTower Advisors LLC Sells 1,401 Shares of Texas Capital Bancshares, Inc. $TCBI

HighTower Advisors LLC trimmed its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 11.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,272 shares of the bank’s stock after selling 1,401 shares during the period. HighTower Advisors LLC’s holdings in Texas Capital Bancshares were worth $842,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. increased its position in shares of Texas Capital Bancshares by 1,089.8% in the first quarter. UMB Bank n.a. now owns 583 shares of the bank’s stock worth $44,000 after purchasing an additional 534 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Texas Capital Bancshares by 127.0% in the first quarter. GAMMA Investing LLC now owns 831 shares of the bank’s stock worth $62,000 after purchasing an additional 465 shares during the last quarter. Bayforest Capital Ltd increased its position in shares of Texas Capital Bancshares by 69.7% in the first quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank’s stock worth $172,000 after purchasing an additional 948 shares during the last quarter. Mariner LLC bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth approximately $205,000. Finally, Teza Capital Management LLC bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth approximately $207,000. 96.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Robert W. Stallings bought 10,500 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the acquisition, the director owned 60,000 shares of the company’s stock, valued at approximately $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Hovde Group upped their price objective on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a “market perform” rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. Jefferies Financial Group set a $80.00 price target on shares of Texas Capital Bancshares and gave the company a “hold” rating in a research report on Wednesday, May 21st. Barclays increased their price target on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the company an “underweight” rating in a research report on Friday, July 18th. Finally, Citigroup increased their price target on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a research 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 given a Sell rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $83.50.

Texas Capital Bancshares Stock Up 0.5%

Shares of Texas Capital Bancshares stock opened at $87.11 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares, Inc. has a 52-week low of $59.37 and a 52-week high of $94.61. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 0.72 and a beta of 0.65. The company’s 50 day moving average price is $83.83 and its 200-day moving average price is $76.81.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The firm had revenue of $307.46 million for the quarter, compared to analysts’ expectations of $298.90 million. During the same quarter last year, the business earned $0.80 earnings per share. Equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

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.