Texas Capital Bancshares, Inc. $TCBI Stock Position Lowered by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 326,286 shares of the bank’s stock after selling 13,430 shares during the quarter. Fisher Asset Management LLC owned about 0.71% of Texas Capital Bancshares worth $25,907,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. raised its position in Texas Capital Bancshares by 29.7% in the second quarter. UMB Bank n.a. now owns 756 shares of the bank’s stock worth $60,000 after acquiring an additional 173 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Texas Capital Bancshares by 3.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,005 shares of the bank’s stock worth $556,000 after purchasing an additional 249 shares during the last quarter. Tectonic Advisors LLC raised its holdings in shares of Texas Capital Bancshares by 0.9% in the 2nd quarter. Tectonic Advisors LLC now owns 32,668 shares of the bank’s stock worth $2,594,000 after purchasing an additional 293 shares in the last quarter. Inspire Investing LLC lifted its stake in Texas Capital Bancshares by 6.4% during the second quarter. Inspire Investing LLC now owns 4,899 shares of the bank’s stock valued at $389,000 after purchasing an additional 294 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Texas Capital Bancshares by 0.4% during the second quarter. Legal & General Group Plc now owns 75,131 shares of the bank’s stock worth $5,965,000 after buying an additional 312 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $90.87 on Wednesday. The business’s 50-day moving average is $85.24 and its 200-day moving average is $83.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 0.63 and a beta of 0.82. Texas Capital Bancshares, Inc. has a fifty-two week low of $59.37 and a fifty-two week high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.41. The firm had revenue of $340.35 million for the quarter, compared to the consensus estimate of $327.13 million. Texas Capital Bancshares had a net margin of 15.14% and a return on equity of 9.51%. The firm’s revenue was up 171.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.41) earnings per share. Equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,000 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were acquired at an average cost of $20.61 per share, with a total value of $206,100.00. Following the completion of the purchase, the director owned 265,913 shares of the company’s stock, valued at $5,480,466.93. The trade was a 3.91% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TCBI shares. Hovde Group increased their price objective on Texas Capital Bancshares from $85.00 to $93.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Piper Sandler upped their target price on Texas Capital Bancshares from $84.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods increased their price target on Texas Capital Bancshares from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Barclays boosted their price objective on Texas Capital Bancshares from $85.00 to $90.00 and gave the stock an “underweight” rating in a report on Tuesday, November 11th. Finally, Cowen initiated coverage on shares of Texas Capital Bancshares in a research note on Wednesday, September 24th. They set a “hold” rating for the company. Four equities research 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $88.10.

Texas Capital Bancshares Company 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.