State of Alaska Department of Revenue decreased its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) by 10.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,936 shares of the bank’s stock after selling 712 shares during the quarter. State of Alaska Department of Revenue’s holdings in Texas Capital Bancshares were worth $305,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in Texas Capital Bancshares by 26,750.0% in the 1st quarter. Parallel Advisors LLC now owns 537 shares of the bank’s stock valued at $26,000 after acquiring an additional 535 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Texas Capital Bancshares in the 1st quarter valued at $32,000. US Bancorp DE grew its stake in Texas Capital Bancshares by 64.7% in the 1st quarter. US Bancorp DE now owns 771 shares of the bank’s stock valued at $38,000 after acquiring an additional 303 shares during the period. Rockefeller Capital Management L.P. grew its stake in Texas Capital Bancshares by 25.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,049 shares of the bank’s stock valued at $63,000 after acquiring an additional 210 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Texas Capital Bancshares in the 1st quarter valued at $104,000. Institutional investors and hedge funds own 96.88% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on TCBI shares. Royal Bank of Canada dropped their price target on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Friday. Jefferies Financial Group lifted their target price on shares of Texas Capital Bancshares from $60.00 to $64.00 in a research note on Tuesday, October 10th. Raymond James lowered their target price on shares of Texas Capital Bancshares from $74.00 to $72.00 and set a “strong-buy” rating on the stock in a research note on Friday. Wedbush lifted their target price on shares of Texas Capital Bancshares from $55.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Texas Capital Bancshares from $52.00 to $56.00 in a research note on Thursday, June 29th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $63.33.
Texas Capital Bancshares Stock Up 0.6 %
NASDAQ TCBI opened at $53.88 on Tuesday. Texas Capital Bancshares, Inc. has a 52 week low of $42.79 and a 52 week high of $69.26. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $59.73 and its 200-day simple moving average is $55.62. The firm has a market cap of $2.59 billion, a PE ratio of 7.24, a P/E/G ratio of 1.63 and a beta of 1.31.
Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $1.18 EPS for the quarter, topping the consensus estimate of $1.01 by $0.17. Texas Capital Bancshares had a return on equity of 7.83% and a net margin of 19.39%. The business had revenue of $472.64 million for the quarter, compared to analyst estimates of $267.89 million. During the same quarter in the previous year, the firm earned $0.74 EPS. As a group, equities analysts anticipate that Texas Capital Bancshares, Inc. will post 4.11 earnings per share for the current year.
Insider Transactions at Texas Capital Bancshares
In related news, Director Robert W. Stallings acquired 2,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average cost of $59.06 per share, for a total transaction of $118,120.00. Following the acquisition, the director now owns 268,000 shares in the company, valued at $15,828,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert W. Stallings acquired 5,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average cost of $61.53 per share, for a total transaction of $307,650.00. Following the acquisition, the director now owns 264,000 shares in the company, valued at $16,243,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Stallings acquired 2,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average price of $59.06 per share, for a total transaction of $118,120.00. Following the completion of the acquisition, the director now owns 268,000 shares in the company, valued at approximately $15,828,080. The disclosure for this purchase can be found here. Insiders have purchased a total of 8,000 shares of company stock worth $485,640 in the last quarter. Company insiders own 0.99% of the company’s stock.
Texas Capital Bancshares Profile
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.
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