Rhumbline Advisers Decreases Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Posted by Defense World Staff on Sep 4th, 2023

Rhumbline Advisers decreased its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 187,633 shares of the bank’s stock after selling 4,046 shares during the quarter. Rhumbline Advisers owned approximately 0.39% of Texas Capital Bancshares worth $9,187,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in Texas Capital Bancshares by 1,083.3% during the fourth quarter. Quadrant Capital Group LLC now owns 426 shares of the bank’s stock worth $26,000 after purchasing an additional 390 shares during the last quarter. Parallel Advisors LLC lifted its stake in Texas Capital Bancshares by 26,750.0% in the first quarter. Parallel Advisors LLC now owns 537 shares of the bank’s stock valued at $26,000 after buying an additional 535 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Texas Capital Bancshares in the first quarter valued at approximately $32,000. US Bancorp DE lifted its stake in Texas Capital Bancshares by 64.7% in the first quarter. US Bancorp DE now owns 771 shares of the bank’s stock valued at $38,000 after buying an additional 303 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Texas Capital Bancshares by 25.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,049 shares of the bank’s stock valued at $63,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were acquired at an average price of $17.95 per share, with a total value of $89,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $89,750. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Robert W. Stallings acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were acquired at an average price of $17.95 per share, with a total value of $89,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $89,750. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert W. Stallings bought 2,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average price of $59.06 per share, for a total transaction of $118,120.00. Following the completion of the transaction, the director now directly owns 268,000 shares of the company’s stock, valued at approximately $15,828,080. The disclosure for this purchase can be found here. Insiders have purchased a total of 15,000 shares of company stock valued at $699,350 over the last quarter. Insiders own 0.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wedbush boosted their price objective on Texas Capital Bancshares from $55.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Truist Financial reduced their price objective on Texas Capital Bancshares from $64.00 to $58.00 in a research note on Thursday, June 29th. JPMorgan Chase & Co. upped their price target on Texas Capital Bancshares from $52.00 to $56.00 in a research note on Thursday, June 29th. Raymond James upped their price target on Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 21st. Finally, StockNews.com assumed coverage on Texas Capital Bancshares in a research note on Thursday, August 17th. They set a “sell” rating for the company. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.22.

Read Our Latest Analysis on Texas Capital Bancshares

Texas Capital Bancshares Stock Up 1.9 %

Texas Capital Bancshares stock opened at $63.60 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 1.91 and a beta of 1.32. Texas Capital Bancshares, Inc. has a fifty-two week low of $42.79 and a fifty-two week high of $69.26. The stock’s fifty day moving average is $59.38 and its two-hundred day moving average is $55.33.

Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last posted its earnings results on Thursday, July 20th. The bank reported $1.33 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.38. The company had revenue of $447.93 million for the quarter, compared to analyst estimates of $269.61 million. Texas Capital Bancshares had a return on equity of 7.23% and a net margin of 19.60%. During the same quarter in the prior year, the company earned $0.59 earnings per share. Analysts predict that Texas Capital Bancshares, Inc. will post 4.17 EPS for the current fiscal year.

About Texas Capital Bancshares

(Free Report)

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking, consumer banking, investment banking, and wealth management services.