Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 24.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 585,852 shares of the bank's stock after selling 186,592 shares during the period. 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.

Several other hedge funds have also recently modified their holdings of TCBI. Assetmark Inc. purchased a new stake in shares of Texas Capital Bancshares in the 4th quarter worth approximately $32,000. Proficio Capital Partners LLC purchased a new stake in shares of Texas Capital Bancshares in the 4th quarter worth approximately $1,688,000. Raymond James Financial Inc. purchased a new stake in shares of Texas Capital Bancshares in the 4th quarter worth approximately $784,000. PNC Financial Services Group Inc. lifted its position in shares of Texas Capital Bancshares by 87.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,559 shares of the bank's stock worth $278,000 after purchasing an additional 1,657 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Texas Capital Bancshares by 18.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,381 shares of the bank's stock worth $968,000 after purchasing an additional 1,908 shares during the period. Hedge funds and other institutional investors own 96.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the company a "hold" rating in a research report on Wednesday, May 21st. Raymond James Financial decreased their target price on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Stephens decreased their target price on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, DA Davidson decreased their target price on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of "Hold" and a consensus target price of $79.43.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ:TCBI traded up $3.82 during midday trading on Thursday, reaching $89.47. The company's stock had a trading volume of 1,457,605 shares, compared to its average volume of 463,827. The firm has a market capitalization of $4.11 billion, a PE ratio of 51.42, a P/E/G ratio of 0.85 and a beta of 0.66. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $94.61. The stock has a fifty day moving average of $77.90 and a 200 day moving average of $75.60. 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 (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $307.46 million for the quarter, compared to analyst estimates of $298.90 million. Texas Capital Bancshares had a net margin of 5.04% and a return on equity of 9.39%. During the same quarter in the prior year, the business earned $0.80 earnings per share. On average, equities analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,500 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were purchased 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 directly owned 60,000 shares of the company's stock, valued at $1,216,800. The trade was a 21.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 29,800 shares of company stock valued at $1,059,205 in the last quarter. 1.72% of the stock is owned by corporate insiders.

About Texas Capital Bancshares

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.