Bank of New York Mellon Corp Has $43.76 Million Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Bank of New York Mellon Corp lowered its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 24.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 585,852 shares of the bank's stock after selling 186,592 shares during the quarter. Bank of New York Mellon Corp owned about 1.28% of Texas Capital Bancshares worth $43,763,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Texas Capital Bancshares during the 4th quarter worth approximately $42,050,000. Azora Capital LP acquired a new position in Texas Capital Bancshares during the 4th quarter worth approximately $25,232,000. SG Americas Securities LLC acquired a new position in Texas Capital Bancshares during the 1st quarter worth approximately $16,938,000. Millennium Management LLC grew its holdings in Texas Capital Bancshares by 60.6% during the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock worth $30,144,000 after acquiring an additional 145,393 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Texas Capital Bancshares by 22.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock worth $58,246,000 after acquiring an additional 138,734 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,500 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the transaction, the director owned 60,000 shares in the company, valued at approximately $1,216,800. This trade represents a 21.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 29,800 shares of company stock valued at $1,059,205 over the last three months. Corporate insiders own 1.72% of the company's stock.

Texas Capital Bancshares Stock Performance

TCBI stock traded up $0.50 during trading on Wednesday, hitting $85.41. 780,283 shares of the company's stock traded hands, compared to its average volume of 461,448. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.21. Texas Capital Bancshares, Inc. has a 52 week low of $56.24 and a 52 week high of $94.61. The stock has a fifty day moving average price of $77.25 and a two-hundred day moving average price of $75.45. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 48.98, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.07). The business had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a net margin of 5.04% and a return on equity of 9.39%. As a group, equities analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TCBI has been the subject of several recent analyst reports. Hovde Group reduced their price objective on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Piper Sandler reduced their price objective on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday. Stephens dropped their target price on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. boosted their target price on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $79.43.

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.