Dimensional Fund Advisors LP Trims Stake in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Dimensional Fund Advisors trimmed its stake in Texas Capital Bancshares by 1.2% to 2,916,735 shares (a 6.39% ownership stake) worth about $246.6 million, while institutional investors now own roughly 96.88% of the company.
• Analysts have mixed views but have raised targets recently; the consensus rating is "Hold" with a consensus price target of $101.17, although several firms (including Raymond James, RBC and Stephens) have lifted price targets and Zacks upgraded the stock to a strong-buy.
• Company insiders bought a total of 23,000 shares in the past 90 days (including director purchases by Laura Whitley and Robert Stallings), and Texas Capital recently reported an EPS beat of $2.08 vs. $1.78 expected for the quarter.

Dimensional Fund Advisors LP reduced its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,916,735 shares of the bank's stock after selling 35,570 shares during the quarter. Dimensional Fund Advisors LP owned 6.39% of Texas Capital Bancshares worth $246,555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. AQR Capital Management LLC increased its position in shares of Texas Capital Bancshares by 7.1% in the second quarter. AQR Capital Management LLC now owns 1,534,446 shares of the bank's stock worth $121,636,000 after purchasing an additional 101,675 shares during the last quarter. Azora Capital LP grew its stake in Texas Capital Bancshares by 141.3% in the 2nd quarter. Azora Capital LP now owns 930,014 shares of the bank's stock worth $73,843,000 after buying an additional 544,590 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Texas Capital Bancshares by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 829,325 shares of the bank's stock worth $70,103,000 after buying an additional 3,522 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Texas Capital Bancshares by 12.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 657,626 shares of the bank's stock worth $52,216,000 after buying an additional 71,774 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Texas Capital Bancshares in the 2nd quarter worth $45,364,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Raymond James Financial lifted their price objective on shares of Texas Capital Bancshares from $98.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, January 7th. Royal Bank Of Canada increased their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the company a "sector perform" rating in a research note on Friday, January 23rd. Hovde Group lifted their price target on Texas Capital Bancshares from $93.00 to $102.00 and gave the stock a "market perform" rating in a research note on Tuesday, January 27th. Stephens upped their price objective on Texas Capital Bancshares from $111.00 to $114.00 and gave the stock an "overweight" rating in a report on Friday, January 23rd. Finally, Zacks Research upgraded Texas Capital Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of "Hold" and a consensus price target of $101.17.

Insider Transactions at Texas Capital Bancshares

In related news, Director Laura L. Whitley bought 500 shares of the company's stock in a transaction that occurred on Monday, January 26th. The stock was bought at an average cost of $97.51 per share, for a total transaction of $48,755.00. Following the acquisition, the director directly owned 7,961 shares of the company's stock, valued at $776,277.11. The trade was a 6.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Stallings purchased 20,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, February 23rd. The shares were bought at an average price of $22.14 per share, for a total transaction of $442,800.00. Following the completion of the transaction, the director owned 335,913 shares in the company, valued at $7,437,113.82. The trade was a 6.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 23,000 shares of company stock worth $582,155 over the last ninety days. Insiders own 1.72% of the company's stock.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock opened at $91.90 on Friday. 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, Inc. has a 52-week low of $59.37 and a 52-week high of $108.92. The company has a fifty day moving average of $98.80 and a 200-day moving average of $91.28. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 0.44 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Thursday, January 22nd. The bank reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.30. The company had revenue of $327.48 million for the quarter, compared to analysts' expectations of $324.09 million. Texas Capital Bancshares had a net margin of 16.52% and a return on equity of 10.05%. During the same quarter last year, the company earned $1.43 EPS. Equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Texas Capital Bancshares Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.