Channing Capital Management LLC lifted its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 739,956 shares of the bank’s stock after buying an additional 24,611 shares during the quarter. Texas Capital Bancshares comprises approximately 2.4% of Channing Capital Management LLC’s holdings, making the stock its 8th largest position. Channing Capital Management LLC owned 1.49% of Texas Capital Bancshares worth $63,488,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its stake in shares of Texas Capital Bancshares by 3.7% in the second quarter. Public Employees Retirement System of Ohio now owns 72,759 shares of the bank’s stock worth $5,632,000 after buying an additional 2,595 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Texas Capital Bancshares by 79.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 32,083 shares of the bank’s stock valued at $2,483,000 after purchasing an additional 14,241 shares during the last quarter. Sapience Investments LLC acquired a new position in Texas Capital Bancshares during the 2nd quarter valued at $8,909,000. Kennedy Capital Management Inc. raised its stake in Texas Capital Bancshares by 378.7% during the 2nd quarter. Kennedy Capital Management Inc. now owns 145,888 shares of the bank’s stock valued at $11,292,000 after purchasing an additional 115,409 shares during the last quarter. Finally, US Bancorp DE raised its stake in Texas Capital Bancshares by 5.5% during the 2nd quarter. US Bancorp DE now owns 4,032 shares of the bank’s stock valued at $312,000 after purchasing an additional 211 shares during the last quarter.
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Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, October 18th. The bank reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. Texas Capital Bancshares had a return on equity of 10.40% and a net margin of 22.50%. The company had revenue of $204.40 million during the quarter, compared to the consensus estimate of $214.08 million. During the same quarter last year, the firm earned $0.87 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis.
Several equities analysts recently commented on the stock. Barclays PLC set a $87.00 target price on shares of Texas Capital Bancshares and gave the company a “hold” rating in a research note on Friday, October 20th. Royal Bank Of Canada reiterated a “buy” rating on shares of Texas Capital Bancshares in a research note on Friday, October 20th. Zacks Investment Research cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Wedbush cut shares of Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and cut their target price for the company from $88.00 to $87.00 in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $90.00 target price on shares of Texas Capital Bancshares in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $89.60.
In related news, COO Peter B. Bartholow sold 3,500 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $87.52, for a total value of $306,320.00. Following the completion of the transaction, the chief operating officer now owns 34,171 shares of the company’s stock, valued at $2,990,645.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider C Keith Cargill purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $74.15 per share, with a total value of $222,450.00. Following the purchase, the insider now owns 80,286 shares of the company’s stock, valued at $5,953,206.90. The disclosure for this purchase can be found here. 0.47% of the stock is owned by insiders.
About Texas Capital Bancshares
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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