State Treasurer State of Michigan lessened its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,700 shares of the bank’s stock after selling 1,700 shares during the quarter. State Treasurer State of Michigan’s holdings in Texas Capital Bancshares were worth $1,604,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Exane Derivatives acquired a new position in Texas Capital Bancshares during the second quarter worth $125,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Texas Capital Bancshares by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the bank’s stock worth $156,000 after purchasing an additional 248 shares during the last quarter. Hilton Capital Management LLC acquired a new position in Texas Capital Bancshares during the second quarter worth $201,000. Cubist Systematic Strategies LLC acquired a new position in Texas Capital Bancshares during the second quarter worth $201,000. Finally, D.A. Davidson & CO. boosted its holdings in Texas Capital Bancshares by 14.3% during the second quarter. D.A. Davidson & CO. now owns 2,632 shares of the bank’s stock worth $203,000 after purchasing an additional 329 shares during the last quarter. Institutional investors own 99.81% of the company’s stock.
Shares of Texas Capital Bancshares, Inc. (NASDAQ TCBI) opened at $85.95 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.22 and a debt-to-equity ratio of 1.44. Texas Capital Bancshares, Inc. has a 1 year low of $56.50 and a 1 year high of $93.35. The stock has a market cap of $4,265.40, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 1.77 and a beta of 1.67.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.01. The company had revenue of $204.40 million for the quarter, compared to analyst estimates of $214.08 million. Texas Capital Bancshares had a net margin of 22.50% and a return on equity of 10.40%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. equities analysts anticipate that Texas Capital Bancshares, Inc. will post 4.04 EPS for the current fiscal year.
Several research analysts recently commented on TCBI shares. Zacks Investment Research upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Tuesday, July 11th. Barclays PLC restated an “equal weight” rating and set a $80.00 target price (up previously from $75.00) on shares of Texas Capital Bancshares in a report on Wednesday, July 12th. BidaskClub cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating and set a $104.00 target price on shares of Texas Capital Bancshares in a report on Friday, July 14th. Finally, Stephens restated a “hold” rating and set a $84.00 target price on shares of Texas Capital Bancshares in a report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Texas Capital Bancshares has a consensus rating of “Hold” and a consensus target price of $89.60.
In other news, COO Peter B. Bartholow sold 3,500 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $87.52, for a total value of $306,320.00. Following the transaction, the chief operating officer now directly owns 34,171 shares of the company’s stock, valued at $2,990,645.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider C Keith Cargill acquired 3,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $74.15 per share, for a total transaction of $222,450.00. Following the completion of the transaction, the insider now directly 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 corporate insiders.
Texas Capital Bancshares Profile
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.
What are top analysts saying about Texas Capital Bancshares Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Texas Capital Bancshares Inc. and related companies.