Citigroup Inc. Sells 8,067 Shares of Texas Capital Bancshares, Inc. $TCBI

Key Points

• Citigroup Inc. has reduced its holdings in Texas Capital Bancshares by 7.5% in the first quarter, owning approximately 0.22% of the bank's stock worth $7.38 million.
• Several hedge funds, including UMB Bank n.a. and GAMMA Investing LLC, have significantly increased their positions in Texas Capital Bancshares, highlighting a contrasting investment trend among institutional investors.
• Analysts have given mixed price targets for Texas Capital Bancshares, with a consensus rating of "Hold" and an average price target of $83.50, reflecting differing perspectives on the stock's future performance.

Citigroup Inc. decreased its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 98,800 shares of the bank's stock after selling 8,067 shares during the quarter. Citigroup Inc. owned approximately 0.22% of Texas Capital Bancshares worth $7,380,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Headlands Technologies LLC raised its position in Texas Capital Bancshares by 167.8% in the 1st quarter. Headlands Technologies LLC now owns 9,762 shares of the bank's stock valued at $729,000 after purchasing an additional 6,117 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Texas Capital Bancshares by 47.5% during the first quarter. Jupiter Asset Management Ltd. now owns 152,459 shares of the bank's stock worth $11,389,000 after acquiring an additional 49,129 shares during the last quarter. Bayforest Capital Ltd raised its position in shares of Texas Capital Bancshares by 69.7% during the first quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock worth $172,000 after acquiring an additional 948 shares during the last quarter. XTX Topco Ltd raised its position in shares of Texas Capital Bancshares by 69.7% during the first quarter. XTX Topco Ltd now owns 7,359 shares of the bank's stock worth $550,000 after acquiring an additional 3,022 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Texas Capital Bancshares by 59.7% during the first quarter. Meeder Asset Management Inc. now owns 6,324 shares of the bank's stock worth $472,000 after acquiring an additional 2,363 shares during the last quarter. Institutional investors own 96.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their target price 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. Barclays boosted their target price on Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research report on Friday, July 18th. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the stock a "hold" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their target price on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $83.50.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,500 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of $20.28 per share, with a total value of $212,940.00. Following the completion of the purchase, the director owned 60,000 shares in the company, valued at approximately $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 SEC, which is available at the SEC website. Insiders own 1.72% of the company's stock.

Texas Capital Bancshares Trading Down 0.5%

NASDAQ:TCBI traded down $0.39 on Thursday, reaching $83.70. The company's stock had a trading volume of 204,849 shares, compared to its average volume of 414,445. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $94.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $3.83 billion, a PE ratio of 33.21, a PEG ratio of 0.70 and a beta of 0.65. The business's 50-day moving average price is $82.91 and its two-hundred day moving average price is $76.68.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its 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 return on equity of 10.36% and a net margin of 6.79%.The firm had revenue of $307.46 million during the quarter, compared to analysts' expectations of $298.90 million. During the same period in the previous year, the firm earned $0.80 earnings per share. Equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

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.