Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by Bryce Point Capital LLC

Key Points

• Bryce Point Capital LLC reduced its stake in Texas Capital Bancshares by 37.2% during the first quarter, bringing its total holdings to $782,000 based on 10,086 shares.
• Insider transactions increased, with Director Robert W. Stallings purchasing 10,500 shares valued at approximately $212,940, boosting his ownership by 21.21%.
• Analysts have set varied price targets for Texas Capital Bancshares, with the average target now at $83.50 and a mix of ratings that include three sell, eight hold, and four buy ratings.

Bryce Point Capital LLC cut its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 37.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,086 shares of the bank's stock after selling 5,984 shares during the period. Bryce Point Capital LLC's holdings in Texas Capital Bancshares were worth $782,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. TD Asset Management Inc increased its holdings in shares of Texas Capital Bancshares by 3.2% in the 1st quarter. TD Asset Management Inc now owns 43,032 shares of the bank's stock worth $3,214,000 after buying an additional 1,354 shares during the last quarter. Legato Capital Management LLC bought a new position in Texas Capital Bancshares during the 1st quarter valued at about $317,000. SYM FINANCIAL Corp grew its holdings in Texas Capital Bancshares by 38.9% during the 1st quarter. SYM FINANCIAL Corp now owns 3,633 shares of the bank's stock valued at $271,000 after purchasing an additional 1,018 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Texas Capital Bancshares by 22.2% during the 1st quarter. Victory Capital Management Inc. now owns 117,828 shares of the bank's stock valued at $8,802,000 after purchasing an additional 21,431 shares during the last quarter. Finally, Tectonic Advisors LLC grew its holdings in Texas Capital Bancshares by 33.5% during the 1st quarter. Tectonic Advisors LLC now owns 32,375 shares of the bank's stock valued at $2,418,000 after purchasing an additional 8,131 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Raymond James Financial cut their price target on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Barclays upped their price target on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a report on Friday, July 18th. Stephens lowered their price objective 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, Piper Sandler lowered 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. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of "Hold" and an average target price of $83.50.

Texas Capital Bancshares Stock Performance

TCBI stock traded down $1.08 on Thursday, hitting $84.39. The company's stock had a trading volume of 176,836 shares, compared to its average volume of 498,446. The firm has a 50 day moving average of $80.10 and a two-hundred day moving average of $76.26. Texas Capital Bancshares, Inc. has a 1 year low of $56.24 and a 1 year high of $94.61. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 0.79 and a beta of 0.66. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.35. The company had revenue of $307.46 million during the quarter, compared to the consensus estimate 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 firm earned $0.80 EPS. Equities analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert W. Stallings purchased 10,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average cost of $20.28 per share, with a total value of $212,940.00. Following the purchase, the director directly owned 60,000 shares in the company, valued at $1,216,800. This trade represents a 21.21% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have acquired 17,800 shares of company stock worth $357,400. 1.72% of the stock is currently owned by corporate insiders.

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.