Granahan Investment Management LLC Has $17.46 Million 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 holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 10.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 233,766 shares of the bank's stock after selling 25,919 shares during the period. Granahan Investment Management LLC owned 0.51% of Texas Capital Bancshares worth $17,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its position in Texas Capital Bancshares by 0.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank's stock worth $248,936,000 after purchasing an additional 26,786 shares during the period. AQR Capital Management LLC raised its stake in shares of Texas Capital Bancshares by 84.8% during the first quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank's stock valued at $105,395,000 after purchasing an additional 657,630 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Texas Capital Bancshares by 9.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 813,028 shares of the bank's stock worth $60,733,000 after buying an additional 68,195 shares in the last quarter. Northern Trust Corp lifted its holdings in Texas Capital Bancshares by 12.0% in the 4th quarter. Northern Trust Corp now owns 660,478 shares of the bank's stock worth $51,649,000 after buying an additional 70,804 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Texas Capital Bancshares by 2.5% in the 1st quarter. Wellington Management Group LLP now owns 591,488 shares of the bank's stock worth $44,184,000 after buying an additional 14,169 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock traded up $0.13 on Wednesday, hitting $86.66. The company had a trading volume of 89,499 shares, compared to its average volume of 486,792. The business has a 50-day simple moving average of $85.36 and a 200-day simple moving average of $77.08. 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 cap of $3.97 billion, a PE ratio of 34.48, a PEG ratio of 0.72 and a beta of 0.69. Texas Capital Bancshares, Inc. has a 52 week low of $59.37 and a 52 week high of $94.61.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on TCBI shares. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the company a "hold" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods upped their target price on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Barclays upped their target price on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a research note on Friday, July 18th. Finally, Citigroup upped their target price on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.00.

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.