Texas Capital Bancshares, Inc. $TCBI Position Cut by Cambiar Investors LLC

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 position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,683 shares of the bank's stock after selling 5,850 shares during the quarter. Cambiar Investors LLC owned about 0.06% of Texas Capital Bancshares worth $2,217,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TCBI. Envestnet Asset Management Inc. lifted its stake in Texas Capital Bancshares by 1.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,838 shares of the bank's stock worth $810,000 after acquiring an additional 207 shares in the last quarter. Moody National Bank Trust Division increased its holdings in shares of Texas Capital Bancshares by 1.5% in the 1st quarter. Moody National Bank Trust Division now owns 17,626 shares of the bank's stock valued at $1,317,000 after acquiring an additional 255 shares during the last quarter. Beacon Pointe Advisors LLC grew its stake in Texas Capital Bancshares by 1.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 18,825 shares of the bank's stock worth $1,472,000 after buying an additional 350 shares during the last quarter. LPL Financial LLC grew its stake in Texas Capital Bancshares by 4.6% during the 4th quarter. LPL Financial LLC now owns 8,776 shares of the bank's stock worth $686,000 after buying an additional 382 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in Texas Capital Bancshares by 9.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,729 shares of the bank's stock worth $370,000 after acquiring an additional 420 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Trading Up 4.6%

TCBI stock traded up $3.8250 during trading on Friday, reaching $87.5250. 610,227 shares of the stock traded hands, compared to its average volume of 489,015. The business's 50 day moving average price is $82.91 and its 200-day moving average price is $76.68. Texas Capital Bancshares, Inc. has a 52-week low of $59.37 and a 52-week high of $94.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $4.01 billion, a PE ratio of 34.73, a P/E/G ratio of 0.70 and a beta of 0.65.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, topping 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 business had revenue of $307.46 million for the quarter, compared to analysts' expectations of $298.90 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. As a group, sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Barclays raised their price target on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods raised their price objective on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Hovde Group raised their price objective on Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Finally, Citigroup raised their price objective on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Texas Capital Bancshares currently has an average rating of "Hold" and an average target price of $83.50.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 10,500 shares of the business's stock in a transaction on 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. This represents a 21.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.72% of the stock is owned by 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.