Brandywine Global Investment Management LLC Trims Stake in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Texas Capital Bancshares by 6.5%, resulting in ownership of approximately $3.36 million worth of shares.
• Several institutional investors have increased their positions in Texas Capital Bancshares, with UMB Bank n.a. growing its holdings by 1,089.8%.
• Analyst ratings for Texas Capital Bancshares are mixed, with an average price target of $83.50 and a consensus rating of "Hold" among researchers.

Brandywine Global Investment Management LLC decreased its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 6.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 44,937 shares of the bank's stock after selling 3,106 shares during the period. Brandywine Global Investment Management LLC owned about 0.10% of Texas Capital Bancshares worth $3,357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in shares of Texas Capital Bancshares by 1,089.8% during the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after acquiring an additional 534 shares during the period. GAMMA Investing LLC grew its holdings in shares of Texas Capital Bancshares by 127.0% during the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock worth $62,000 after acquiring an additional 465 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Texas Capital Bancshares by 819.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock worth $116,000 after acquiring an additional 1,320 shares during the period. Bayforest Capital Ltd grew its holdings in shares of Texas Capital Bancshares by 69.7% during the 1st quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock worth $172,000 after acquiring an additional 948 shares during the period. Finally, United Capital Financial Advisors LLC purchased a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $202,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Analysts Set New Price Targets

TCBI has been the topic of a number of research analyst reports. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the stock a "hold" rating in a report on Wednesday, May 21st. Piper Sandler dropped their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Stephens dropped their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Citigroup boosted their price target on Texas Capital Bancshares from $69.00 to $79.00 and gave the stock a "sell" rating in a research report on Friday, July 18th. Finally, DA Davidson dropped their price target on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $83.50.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $84.35 on Tuesday. The company has a market cap of $3.86 billion, a PE ratio of 33.47, a PEG ratio of 0.70 and a beta of 0.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The firm's 50-day moving average price is $82.51 and its 200-day moving average price is $76.53. Texas Capital Bancshares, Inc. has a 52-week low of $59.37 and a 52-week high of $94.61.

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

Insiders Place Their Bets

In related news, Director Robert W. Stallings bought 10,500 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was acquired at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the purchase, 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.72% of the company's stock.

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.

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