Balyasny Asset Management LLC Trims Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Posted by Defense World Staff on Mar 15th, 2023

Balyasny Asset Management LLC decreased its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 512,617 shares of the bank’s stock after selling 1,441 shares during the period. Balyasny Asset Management LLC owned 1.03% of Texas Capital Bancshares worth $30,260,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TCBI. Wipfli Financial Advisors LLC purchased a new position in shares of Texas Capital Bancshares in the third quarter worth about $35,000. Eagle Bay Advisors LLC increased its stake in shares of Texas Capital Bancshares by 65.9% in the second quarter. Eagle Bay Advisors LLC now owns 720 shares of the bank’s stock worth $38,000 after purchasing an additional 286 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Texas Capital Bancshares by 60.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,044 shares of the bank’s stock worth $120,000 after purchasing an additional 767 shares in the last quarter. Pictet Asset Management SA purchased a new position in shares of Texas Capital Bancshares in the third quarter worth about $201,000. Finally, Cim Investment Management Inc. purchased a new position in Texas Capital Bancshares during the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 96.91% of the company’s stock.

Texas Capital Bancshares Trading Up 7.9 %

Shares of TCBI opened at $55.47 on Wednesday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.90 and a beta of 1.31. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 1.03. Texas Capital Bancshares, Inc. has a fifty-two week low of $45.81 and a fifty-two week high of $69.26. The firm has a 50 day moving average price of $64.14 and a 200-day moving average price of $61.11.

Analyst Ratings Changes

Several equities analysts recently commented on TCBI shares. TheStreet raised shares of Texas Capital Bancshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 18th. StockNews.com cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Texas Capital Bancshares from $50.00 to $55.00 and gave the company an “underweight” rating in a research note on Monday, January 23rd. DA Davidson reaffirmed a “neutral” rating on shares of Texas Capital Bancshares in a research note on Wednesday, December 21st. Finally, Truist Financial boosted their price objective on shares of Texas Capital Bancshares from $68.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, January 20th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.89.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 3,000 shares of the stock in a transaction dated Thursday, February 16th. The stock was purchased at an average cost of $21.94 per share, for a total transaction of $65,820.00. Following the acquisition, the director now owns 30,000 shares in the company, valued at approximately $658,200. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Robert W. Stallings purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, February 21st. The stock was bought at an average cost of $21.18 per share, for a total transaction of $211,800.00. Following the acquisition, the director now directly owns 45,000 shares of the company’s stock, valued at approximately $953,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Stallings purchased 3,000 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were purchased at an average price of $21.94 per share, with a total value of $65,820.00. Following the completion of the acquisition, the director now directly owns 30,000 shares in the company, valued at $658,200. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 19,888 shares of company stock worth $430,333. 0.56% of the stock is currently owned by insiders.

Texas Capital Bancshares Company Profile

(Get Rating)

Texas Capital Bancshares, Inc is the holding company of Texas Capital Bank, which engages in the provision of financial services and customized solutions to businesses, entrepreneurs, and individual customers. The company was founded by George F. Jones, Jr. and Joseph M. Grant in November 1996 and is headquartered in Dallas, TX.