Advantage Alpha Capital Partners LP Has $243,000 Position in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Advantage Alpha Capital Partners LP significantly reduced its holdings in Texas Capital Bancshares by 60.8%, selling 5,050 shares and now owning 3,252 shares valued at $243,000.
• Multiple institutional investors increased their stakes in Texas Capital Bancshares, with UMB Bank raising its investment by 1,089.8%, and GAMMA Investing LLC increasing its stake by 127.0%.
• Texas Capital Bancshares reported earnings of $1.63 per share for the quarter, surpassing analyst estimates, with a revenue of $307.46 million compared to expected figures of $298.90 million.

Advantage Alpha Capital Partners LP decreased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 60.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,252 shares of the bank's stock after selling 5,050 shares during the period. Advantage Alpha Capital Partners LP's holdings in Texas Capital Bancshares were worth $243,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its holdings in Texas Capital Bancshares by 0.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank's stock valued at $248,936,000 after acquiring an additional 26,786 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Texas Capital Bancshares by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 813,028 shares of the bank's stock valued at $60,733,000 after acquiring an additional 68,195 shares during the last quarter. Northern Trust Corp boosted its holdings in Texas Capital Bancshares by 12.0% in the fourth quarter. Northern Trust Corp now owns 660,478 shares of the bank's stock valued at $51,649,000 after acquiring an additional 70,804 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Texas Capital Bancshares by 2.5% in the first quarter. Wellington Management Group LLP now owns 591,488 shares of the bank's stock valued at $44,184,000 after acquiring an additional 14,169 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Texas Capital Bancshares by 60.6% during the fourth quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock worth $30,144,000 after buying an additional 145,393 shares during the last quarter. Institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Stock Down 0.9%

NASDAQ TCBI traded down $0.77 during trading on Thursday, hitting $86.35. The stock had a trading volume of 72,371 shares, compared to its average volume of 490,869. The company has a market capitalization of $3.95 billion, a PE ratio of 34.28, a P/E/G ratio of 0.72 and a beta of 0.65. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $94.61. The company's 50-day moving average price is $83.83 and its two-hundred day moving average price is $76.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.35. The firm had revenue of $307.46 million for the quarter, compared to analyst estimates of $298.90 million. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.During the same quarter in the previous year, the firm earned $0.80 EPS. As a group, sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TCBI. Keefe, Bruyette & Woods raised their target price on Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Citigroup raised their target price on Texas Capital Bancshares from $69.00 to $79.00 and gave the stock a "sell" rating in a report on Friday, July 18th. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Hovde Group raised their target price on Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. raised their target price on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $83.50.

Insiders Place Their Bets

In other news, Director Robert W. Stallings bought 10,500 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the acquisition, the director owned 60,000 shares in the company, valued at approximately $1,216,800. This represents a 21.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.72% 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 solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.