Dimensional Fund Advisors LP Decreases Stock Holdings in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Texas Capital Bancshares by 4.4%, now holding approximately 6.54% of the company, valued at $224 million.
• Multiple institutional investors have acquired new positions in Texas Capital Bancshares, with a significant acquisition by Millennium Management LLC, which increased its holdings by 60.6%.
• Texas Capital Bancshares has seen a range of analyst upgrades and downgrades, with a current consensus rating of "Hold" and a price target of $83.50.

Dimensional Fund Advisors LP decreased its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,003,146 shares of the bank's stock after selling 138,357 shares during the quarter. Dimensional Fund Advisors LP owned about 6.54% of Texas Capital Bancshares worth $224,329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new position in Texas Capital Bancshares in the 1st quarter worth $25,808,000. Azora Capital LP purchased a new position in shares of Texas Capital Bancshares in the fourth quarter worth about $25,232,000. SG Americas Securities LLC purchased a new stake in Texas Capital Bancshares in the first quarter valued at approximately $16,938,000. Millennium Management LLC increased its holdings in Texas Capital Bancshares by 60.6% in the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock worth $30,144,000 after buying an additional 145,393 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in Texas Capital Bancshares in the 4th quarter worth approximately $6,979,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 10,500 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the transaction, the director owned 60,000 shares of the company's stock, valued at $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.72% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on TCBI shares. JPMorgan Chase & Co. lifted their price objective on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Citigroup upped their price target 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. Hovde Group lifted 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, Barclays upped their target price on Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of "Hold" and a consensus price target of $83.50.

Texas Capital Bancshares Price Performance

NASDAQ TCBI traded up $0.50 on Wednesday, hitting $84.09. The company had a trading volume of 386,096 shares, compared to its average volume of 418,772. 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 company has a market capitalization of $3.85 billion, a PE ratio of 33.37, a PEG ratio of 0.70 and a beta of 0.65. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month high of $94.61. The company's fifty day moving average price is $82.77 and its 200-day moving average price is $76.63.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its 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 net margin of 6.79% and a return on equity of 10.36%. The business had revenue of $307.46 million for the quarter, compared to analyst estimates of $298.90 million. During the same quarter last year, the business earned $0.80 earnings per share. As a group, analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Texas Capital Bancshares 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.