Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Position Decreased by Heartland Advisors Inc.

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. lessened its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 18.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 479,038 shares of the bank's stock after selling 110,286 shares during the quarter. Texas Capital Bancshares makes up 2.1% of Heartland Advisors Inc.'s portfolio, making the stock its largest holding. Heartland Advisors Inc. owned 1.04% of Texas Capital Bancshares worth $35,784,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. UMB Bank n.a. increased its holdings in Texas Capital Bancshares by 1,089.8% in the 1st 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 last quarter. GAMMA Investing LLC grew its stake in shares of Texas Capital Bancshares by 127.0% in the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock worth $62,000 after buying an additional 465 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Texas Capital Bancshares during the fourth quarter valued at approximately $115,000. Sterling Capital Management LLC lifted its position 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 worth $116,000 after buying an additional 1,320 shares during the last quarter. Finally, United Capital Financial Advisors LLC purchased a new position in shares of Texas Capital Bancshares during the 4th quarter worth about $202,000. 96.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on TCBI. Hovde Group lifted their target price on Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Stephens cut their price objective on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods upped their price target 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. Piper Sandler decreased their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Jefferies Financial Group set a $80.00 price target on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $83.50.

Texas Capital Bancshares Trading Down 0.2%

Shares of NASDAQ TCBI traded down $0.14 during midday trading on Tuesday, reaching $86.35. 92,644 shares of the stock were exchanged, compared to its average volume of 498,804. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $94.61. 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 stock has a market capitalization of $3.95 billion, a P/E ratio of 34.29, a PEG ratio of 0.78 and a beta of 0.66. The company has a 50 day simple moving average of $79.63 and a 200 day simple moving average of $76.13.

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 for the quarter, topping analysts' consensus estimates of $1.28 by $0.35. The firm 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 quarter last year, the company posted $0.80 EPS. As a group, equities 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 bought 10,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average cost of $20.28 per share, with a total value of $212,940.00. Following the purchase, the director directly owned 60,000 shares in the company, valued at approximately $1,216,800. This represents a 21.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 18,800 shares of company stock valued at $377,250 over the last ninety days. Company insiders own 1.72% of the company's stock.

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.