Texas Capital Bancshares, Inc. $TCBI Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 551,574 shares of the bank's stock after selling 20,965 shares during the period. Charles Schwab Investment Management Inc. owned 1.20% of Texas Capital Bancshares worth $41,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in Texas Capital Bancshares by 1,089.8% in the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after purchasing an additional 534 shares in the last quarter. GAMMA Investing LLC raised its position in 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 buying an additional 465 shares during the last quarter. Sterling Capital Management LLC raised its position in 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 buying an additional 1,320 shares during the last quarter. Bayforest Capital Ltd raised its position in 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 buying an additional 948 shares during the last quarter. Finally, United Capital Financial Advisors LLC purchased a new position in Texas Capital Bancshares during the 4th quarter worth approximately $202,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,500 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average price of $20.28 per share, with a total value of $212,940.00. Following the purchase, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.72% of the company's stock.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock traded up $3.1190 during trading on Friday, reaching $86.8190. The company had a trading volume of 133,395 shares, compared to its average volume of 486,823. The firm's 50-day simple moving average is $82.91 and its 200 day simple moving average is $76.68. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $94.61. The firm has a market capitalization of $3.97 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current 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 analysts' consensus estimates of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The firm had revenue of $307.46 million for the quarter, compared to analysts' expectations of $298.90 million. During the same quarter last year, the company earned $0.80 EPS. As a group, equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TCBI has been the subject of a number of recent research reports. 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 research report on Monday, July 21st. Jefferies Financial Group set a $80.00 price target on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Citigroup lifted their target price on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a report on Friday, July 18th. Barclays lifted their target price 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. Finally, Hovde Group lifted their target price on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Four 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 company. Based on data from MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of "Hold" and an average target price of $83.50.

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.