Hodges Capital Management Inc. Cuts Stock Holdings in Texas Capital Bancshares, Inc. $TCBI

Hodges Capital Management Inc. lowered its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,259 shares of the bank’s stock after selling 11,517 shares during the quarter. Hodges Capital Management Inc. owned approximately 0.28% of Texas Capital Bancshares worth $10,757,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Texas Capital Bancshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank’s stock valued at $2,062,000 after purchasing an additional 1,206 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Texas Capital Bancshares by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock worth $41,837,000 after buying an additional 20,231 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Texas Capital Bancshares during the first quarter worth $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Texas Capital Bancshares by 29.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank’s stock valued at $8,050,000 after buying an additional 24,538 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Texas Capital Bancshares in the second quarter worth about $220,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TCBI. Keefe, Bruyette & Woods upped their price objective on shares of Texas Capital Bancshares from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Raymond James Financial upped their price target on Texas Capital Bancshares from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. DA Davidson lifted their price objective on Texas Capital Bancshares from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Barclays boosted their price objective on Texas Capital Bancshares from $90.00 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, January 23rd. Finally, Piper Sandler raised their target price on Texas Capital Bancshares from $86.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $101.17.

Texas Capital Bancshares Stock Up 0.9%

Shares of NASDAQ:TCBI opened at $104.37 on Wednesday. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 0.50 and a beta of 0.68. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month high of $108.92. The business has a 50-day moving average price of $97.74 and a 200 day moving average price of $89.85. 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 (NASDAQ:TCBI) last announced its earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.30. The company had revenue of $327.48 million during the quarter, compared to analyst estimates of $324.09 million. Texas Capital Bancshares had a net margin of 16.52% and a return on equity of 10.05%. During the same quarter last year, the firm posted $1.43 earnings per share. Sell-side analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Buying and Selling

In other news, Director Robert W. Stallings purchased 2,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was acquired at an average cost of $20.91 per share, for a total transaction of $41,820.00. Following the completion of the transaction, the director directly owned 277,913 shares in the company, valued at approximately $5,811,160.83. This represents a 0.72% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laura L. Whitley acquired 500 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was purchased at an average cost of $97.51 per share, with a total value of $48,755.00. Following the completion of the purchase, the director directly owned 7,961 shares of the company’s stock, valued at approximately $776,277.11. This represents a 6.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 3,000 shares of company stock valued at $139,355 in the last ninety days. 1.72% of the stock is currently owned by corporate insiders.

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.