American Century Companies Inc. Reduces Stake in Texas Capital Bancshares, Inc. $TCBI

Key Points

• American Century Companies Inc. has reduced its stake in Texas Capital Bancshares by 42.0%, selling 243,860 shares, and now owns 337,203 shares valued at approximately $25.19 million.
• Institutional investors hold 96.88% of Texas Capital Bancshares, with various firms, including Massachusetts Financial Services Co. and Millennium Management LLC, increasing their stakes in the company.
• Texas Capital Bancshares has recently received mixed ratings from analysts, with an average consensus rating of "Hold" and a price target of $83.50.

American Century Companies Inc. trimmed its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 42.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 337,203 shares of the bank's stock after selling 243,860 shares during the quarter. American Century Companies Inc. owned 0.73% of Texas Capital Bancshares worth $25,189,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Texas Capital Bancshares during the first quarter valued at $528,000. Nomura Holdings Inc. bought a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at about $479,000. Bank of America Corp DE raised its holdings in shares of Texas Capital Bancshares by 25.0% in the fourth quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock valued at $15,554,000 after acquiring an additional 39,832 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Texas Capital Bancshares in the first quarter valued at about $16,938,000. Finally, Edgestream Partners L.P. raised its holdings in shares of Texas Capital Bancshares by 28.8% in the first quarter. Edgestream Partners L.P. now owns 131,139 shares of the bank's stock valued at $9,796,000 after acquiring an additional 29,341 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. JPMorgan Chase & Co. lifted their price objective on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the company a "hold" rating in a report on Wednesday, May 21st. Hovde Group lifted their price objective on Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Finally, Barclays lifted their price objective on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus target price of $83.50.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the purchase, the director owned 60,000 shares of the company's stock, valued at approximately $1,216,800. The trade was 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 Stock Down 0.8%

Shares of TCBI stock traded down $0.67 during trading hours on Thursday, reaching $86.44. 47,324 shares of the company's stock were exchanged, compared to its average volume of 490,714. Texas Capital Bancshares, Inc. has a 1 year low of $59.37 and a 1 year high of $94.61. The stock has a market cap of $3.96 billion, a PE ratio of 34.30, a PEG ratio of 0.72 and a beta of 0.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The stock's fifty day moving average price is $83.83 and its two-hundred day moving average price is $76.81.

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

Texas Capital Bancshares Company 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.