Texas Capital Bancshares, Inc. $TCBI Shares Sold by Brandywine Global Investment Management LLC

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% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,937 shares of the bank's stock after selling 3,106 shares during the period. Brandywine Global Investment Management LLC owned 0.10% of Texas Capital Bancshares worth $3,357,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Texas Capital Bancshares during the first quarter valued at approximately $528,000. Nomura Holdings Inc. purchased a new stake in Texas Capital Bancshares during the fourth quarter valued at approximately $479,000. Bank of America Corp DE lifted its position in Texas Capital Bancshares by 25.0% during 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 during the last quarter. SG Americas Securities LLC purchased a new stake in Texas Capital Bancshares during the first quarter valued at approximately $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 worth $9,796,000 after buying an additional 29,341 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on TCBI. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Hovde Group raised their price target on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. JPMorgan Chase & Co. raised their price target on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Jefferies Financial Group set a $80.00 price target on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company 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 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. 1.72% of the stock is owned by insiders.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ:TCBI traded up $3.80 during midday trading on Friday, reaching $87.50. The company's stock had a trading volume of 1,160,010 shares, compared to its average volume of 426,264. The firm has a market capitalization of $4.00 billion, a PE ratio of 34.72, a P/E/G ratio of 0.73 and a beta of 0.65. Texas Capital Bancshares, Inc. has a twelve month low of $59.37 and a twelve month high of $94.61. The stock has a fifty day moving average of $83.16 and a 200 day moving average of $76.64. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19.

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 6.79% and a return on equity of 10.36%. 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.

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.