Thrivent Financial for Lutherans Lowers Holdings in Texas Capital Bancshares, Inc. $TCBI

Thrivent Financial for Lutherans trimmed its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 50.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,375 shares of the bank’s stock after selling 38,646 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of Texas Capital Bancshares worth $3,047,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC grew its position in Texas Capital Bancshares by 22.1% during the 1st quarter. Intech Investment Management LLC now owns 29,790 shares of the bank’s stock valued at $2,225,000 after purchasing an additional 5,393 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Texas Capital Bancshares by 69.0% in the first quarter. Hsbc Holdings PLC now owns 19,524 shares of the bank’s stock worth $1,449,000 after buying an additional 7,974 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Texas Capital Bancshares by 12.3% during the second quarter. Bank of New York Mellon Corp now owns 657,626 shares of the bank’s stock valued at $52,216,000 after buying an additional 71,774 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Texas Capital Bancshares by 7.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,794 shares of the bank’s stock valued at $936,000 after buying an additional 795 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Texas Capital Bancshares by 8.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 359,972 shares of the bank’s stock valued at $26,890,000 after acquiring an additional 29,074 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TCBI shares. Cowen assumed coverage on Texas Capital Bancshares in a research report on Wednesday, September 24th. They issued a “hold” rating on the stock. Weiss Ratings raised Texas Capital Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 31st. 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. Keefe, Bruyette & Woods boosted their target price on Texas Capital Bancshares from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, Barclays upped their target price on shares of Texas Capital Bancshares from $85.00 to $90.00 and gave the company an “underweight” rating in a research note on Tuesday, November 11th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $89.40.

Texas Capital Bancshares Trading Down 0.3%

Shares of NASDAQ:TCBI opened at $92.59 on Monday. The stock’s 50-day simple moving average is $87.63 and its two-hundred day simple moving average is $85.07. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.59 and a beta of 0.68. Texas Capital Bancshares, Inc. has a 52-week low of $59.37 and a 52-week high of $98.07. 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 (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.18 EPS for the quarter, beating the consensus estimate of $1.77 by $0.41. The firm had revenue of $340.35 million during the quarter, compared to analyst estimates of $327.13 million. Texas Capital Bancshares had a net margin of 15.14% and a return on equity of 9.51%. The business’s revenue for the quarter was up 171.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.41) EPS. Analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,000 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were acquired at an average cost of $20.61 per share, for a total transaction of $206,100.00. Following the completion of the transaction, the director owned 265,913 shares of the company’s stock, valued at approximately $5,480,466.93. The trade was a 3.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.72% of the company’s stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.