Granahan Investment Management LLC Has $17.46 Million Stock Holdings in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Granahan Investment Management LLC has reduced its stake in Texas Capital Bancshares by 10.0%, resulting in ownership of 233,766 shares valued at approximately $17.46 million.
• Several institutional investors have made significant changes, with AQR Capital Management LLC increasing its holdings by 84.8%, now owning over 1.43 million shares worth around $105.39 million.
• Analysts have issued mixed ratings for Texas Capital Bancshares, with a consensus rating of "Hold" and a target price of $83.50 after recent upgrades and downgrades from firms like JPMorgan and Hovde Group.

Granahan Investment Management LLC trimmed its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 10.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 233,766 shares of the bank's stock after selling 25,919 shares during the period. Granahan Investment Management LLC owned about 0.51% of Texas Capital Bancshares worth $17,462,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in Texas Capital Bancshares by 84.8% in the first quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank's stock valued at $105,395,000 after acquiring an additional 657,630 shares during the period. Focus Partners Advisor Solutions LLC bought a new stake in shares of Texas Capital Bancshares during the first quarter worth $207,000. Azora Capital LP grew its holdings in shares of Texas Capital Bancshares by 19.5% during the first quarter. Azora Capital LP now owns 385,424 shares of the bank's stock worth $28,791,000 after purchasing an additional 62,765 shares during the last quarter. State of Wyoming bought a new stake in shares of Texas Capital Bancshares during the first quarter worth $70,000. Finally, Ieq Capital LLC grew its holdings in shares of Texas Capital Bancshares by 741.6% during the first quarter. Ieq Capital LLC now owns 42,721 shares of the bank's stock worth $3,191,000 after purchasing an additional 37,645 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TCBI. Barclays increased their target price on Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a report on Friday, July 18th. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Hovde Group upped their price target 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. Citigroup upped their price target on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. upped their price target on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $83.50.

Texas Capital Bancshares Trading Down 0.8%

NASDAQ:TCBI traded down $0.68 during mid-day trading on Friday, hitting $86.52. The company had a trading volume of 404,626 shares, compared to its average volume of 420,281. Texas Capital Bancshares, Inc. has a fifty-two week low of $59.37 and a fifty-two week high of $94.61. The business's fifty day moving average is $85.12 and its two-hundred day moving average is $76.96. 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 $3.96 billion, a P/E ratio of 34.33, a P/E/G ratio of 0.71 and a beta of 0.69.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.35. The firm 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 in the prior year, the firm posted $0.80 earnings per share. As a group, research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were bought at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of the transaction, the director directly owned 60,000 shares in the company, valued at $1,216,800. This trade represents a 21.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.72% of the stock is currently owned by corporate insiders.

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.