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Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by Hennessy Advisors Inc.

Texas Capital Bancshares logo with Finance background

Hennessy Advisors Inc. reduced its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 50.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the bank's stock after selling 5,000 shares during the quarter. Hennessy Advisors Inc.'s holdings in Texas Capital Bancshares were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Picton Mahoney Asset Management purchased a new position in Texas Capital Bancshares during the fourth quarter valued at $30,000. Assetmark Inc. bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at $32,000. Venturi Wealth Management LLC bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at $37,000. UMB Bank n.a. raised its position in shares of Texas Capital Bancshares by 1,089.8% in the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after purchasing an additional 534 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in 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 purchasing an additional 465 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TCBI shares. Keefe, Bruyette & Woods reduced their price objective on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their price target on Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Hovde Group lowered their price target on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Piper Sandler reduced their price objective 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 target price on shares of Texas Capital Bancshares and gave the company a "hold" rating in a research note on Wednesday, May 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $78.00.

View Our Latest Stock Report on TCBI

Texas Capital Bancshares Trading Up 1.1%

Shares of Texas Capital Bancshares stock traded up $0.86 during trading on Thursday, hitting $75.72. The stock had a trading volume of 269,838 shares, compared to its average volume of 459,125. Texas Capital Bancshares, Inc. has a 12 month low of $56.24 and a 12 month high of $91.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.00 and a quick ratio of 1.00. The firm's fifty day simple moving average is $71.29 and its 200-day simple moving average is $75.57. The stock has a market cap of $3.48 billion, a PE ratio of 43.52, a PEG ratio of 0.83 and a beta of 0.65.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). The company had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Texas Capital Bancshares had a return on equity of 9.39% and a net margin of 5.04%. As a group, sell-side analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert W. Stallings purchased 500 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were acquired at an average price of $68.20 per share, for a total transaction of $34,100.00. Following the purchase, the director now owns 289,961 shares of the company's stock, valued at $19,775,340.20. This trade represents a 0.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have bought 19,300 shares of company stock worth $846,265. Corporate insiders own 1.72% of the company's stock.

About Texas Capital Bancshares

(Free Report)

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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Institutional Ownership by Quarter for Texas Capital Bancshares (NASDAQ:TCBI)

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