Cambiar Investors LLC Has $2.22 Million Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Key Points

• Cambiar Investors LLC reduced its stake in Texas Capital Bancshares by 16.5%, owning 29,683 shares valued at approximately $2.22 million.
• Texas Capital Bancshares reported Q2 earnings of $1.63 per share, beating estimates by $0.35 and showing a significant increase from the previous year.
• Institutional investors own 96.88% of Texas Capital Bancshares, reflecting strong institutional interest in the stock.

Cambiar Investors LLC trimmed its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 16.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,683 shares of the bank's stock after selling 5,850 shares during the period. Cambiar Investors LLC owned 0.06% of Texas Capital Bancshares worth $2,217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new position in Texas Capital Bancshares in the 1st quarter valued at $528,000. Nomura Holdings Inc. bought a new position in shares of Texas Capital Bancshares in the 4th quarter worth $479,000. Bank of America Corp DE boosted its position in shares of Texas Capital Bancshares by 25.0% in the 4th quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock worth $15,554,000 after purchasing an additional 39,832 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Texas Capital Bancshares in the 1st quarter worth $16,938,000. Finally, Edgestream Partners L.P. boosted its position in shares of Texas Capital Bancshares by 28.8% in the 1st quarter. Edgestream Partners L.P. now owns 131,139 shares of the bank's stock worth $9,796,000 after purchasing an additional 29,341 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Stock Performance

TCBI opened at $83.94 on Friday. The business's 50-day moving average price is $82.38 and its two-hundred day moving average price is $76.52. Texas Capital Bancshares, Inc. has a 1 year low of $59.37 and a 1 year high of $94.61. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 33.31, a P/E/G ratio of 0.70 and a beta of 0.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%. The firm had revenue of $307.46 million for the quarter, compared to the consensus estimate of $298.90 million. During the same quarter last year, the business posted $0.80 EPS. Equities analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on TCBI. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Citigroup raised 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. JPMorgan Chase & Co. raised their price objective on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Raymond James Financial dropped their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Finally, Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Three research 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $83.50.

Insider Activity

In related news, Director Robert W. Stallings bought 10,500 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of the transaction, the director owned 60,000 shares in the company, valued at $1,216,800. The trade was a 21.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.72% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.