Dimensional Fund Advisors LP Trims Stock Position 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 holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. 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 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its position in Texas Capital Bancshares by 1,089.8% in the first quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after acquiring an additional 534 shares in the last quarter. GAMMA Investing LLC raised its position in Texas Capital Bancshares by 127.0% in the first quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock worth $62,000 after acquiring an additional 465 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Texas Capital Bancshares by 819.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock valued at $116,000 after purchasing an additional 1,320 shares during the last quarter. Bayforest Capital Ltd increased its position in shares of Texas Capital Bancshares by 69.7% in the first quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock valued at $172,000 after buying an additional 948 shares in the last quarter. Finally, United Capital Financial Advisors LLC purchased a new position in shares of Texas Capital Bancshares in the fourth quarter valued at $202,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,500 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, June 11th. The shares were 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 represents a 21.21% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.72% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TCBI. Hovde Group raised their price target on Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Jefferies Financial Group set a $80.00 price target on Texas Capital Bancshares and gave the company a "hold" rating in a research report on Wednesday, May 21st. Citigroup raised their price target on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research report on Friday, July 18th. 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 research report on Tuesday, July 1st. Finally, Barclays raised their price target on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a research report on Friday, July 18th. Four 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $83.50.

Texas Capital Bancshares Price Performance

Shares of TCBI traded up $3.80 during trading hours on Friday, reaching $87.50. 1,160,010 shares of the company traded hands, compared to its average volume of 407,041. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $4.00 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 0.73 and a beta of 0.65. Texas Capital Bancshares, Inc. has a fifty-two week low of $59.37 and a fifty-two week high of $94.61. The stock has a fifty day simple moving average of $83.16 and a 200 day simple moving average of $76.69.

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