Heartland Advisors Inc. Sells 110,286 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Key Points

• Heartland Advisors Inc. reduced its stake in Texas Capital Bancshares by 18.7%, selling 110,286 shares during the first quarter, while still maintaining ownership of 479,038 shares worth approximately $35.8 million.
• Insider transactions include Director Robert W. Stallings purchasing 10,500 shares at $20.28 per share, increasing his holdings to 60,000 shares valued at about $1.2 million.
• Several analysts have recently adjusted their price targets for Texas Capital Bancshares, with a current average target set at $83.50 and a consensus rating of "Hold".

Heartland Advisors Inc. lowered its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 18.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 479,038 shares of the bank's stock after selling 110,286 shares during the quarter. Texas Capital Bancshares comprises about 2.1% of Heartland Advisors Inc.'s investment portfolio, making the stock its largest position. Heartland Advisors Inc. owned 1.04% of Texas Capital Bancshares worth $35,784,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. UMB Bank n.a. lifted its stake in shares of Texas Capital Bancshares by 1,089.8% during the first quarter. UMB Bank n.a. now owns 583 shares of the bank's stock valued at $44,000 after acquiring an additional 534 shares during the period. GAMMA Investing LLC lifted its stake in shares of Texas Capital Bancshares by 127.0% during the first quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock valued at $62,000 after acquiring an additional 465 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Texas Capital Bancshares during the fourth quarter valued at $115,000. Sterling Capital Management LLC lifted its stake in shares of Texas Capital Bancshares by 819.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock valued at $116,000 after acquiring an additional 1,320 shares during the period. Finally, United Capital Financial Advisors LLC acquired a new position in shares of Texas Capital Bancshares during the fourth quarter valued at $202,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,500 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was bought at an average cost 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 approximately $1,216,800. This represents a 21.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased 19,800 shares of company stock valued at $397,090 in the last ninety days. 1.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TCBI. Jefferies Financial Group set a $80.00 price target on Texas Capital Bancshares and gave the company a "hold" rating in a research note on Wednesday, May 21st. Piper Sandler cut their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Stephens cut their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Barclays upped their price target on 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, Raymond James Financial cut their target price on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares presently has an average rating of "Hold" and an average price target of $83.50.

Texas Capital Bancshares Stock Down 2.1%

Shares of Texas Capital Bancshares stock opened at $86.43 on Friday. Texas Capital Bancshares, Inc. has a 1 year low of $56.24 and a 1 year high of $94.61. The business has a 50-day moving average of $79.22 and a two-hundred day moving average of $75.98. The company has a market capitalization of $3.96 billion, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 0.81 and a beta of 0.66. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00.

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, topping analysts' consensus estimates of $1.28 by $0.35. The business had revenue of $307.46 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $0.80 earnings per share. As a group, equities analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS 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.

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