Hennessy Advisors Inc. Lowers Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Hennessy Advisors Inc. decreased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 50.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the bank's stock after selling 5,000 shares during the period. Hennessy Advisors Inc.'s holdings in Texas Capital Bancshares were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TCBI. Amalgamated Bank increased its stake in shares of Texas Capital Bancshares by 0.8% in the 4th quarter. Amalgamated Bank now owns 20,791 shares of the bank's stock worth $1,626,000 after purchasing an additional 166 shares in the last quarter. Moody National Bank Trust Division increased its stake in shares of Texas Capital Bancshares by 1.5% in the first quarter. Moody National Bank Trust Division now owns 17,626 shares of the bank's stock worth $1,317,000 after purchasing an additional 255 shares in the last quarter. Xponance Inc. increased its stake in shares of Texas Capital Bancshares by 4.8% in the fourth quarter. Xponance Inc. now owns 6,569 shares of the bank's stock worth $514,000 after purchasing an additional 300 shares in the last quarter. Savant Capital LLC raised its position in shares of Texas Capital Bancshares by 5.7% during the 4th quarter. Savant Capital LLC now owns 5,604 shares of the bank's stock valued at $438,000 after purchasing an additional 303 shares during the period. Finally, Beacon Pointe Advisors LLC lifted its stake in shares of Texas Capital Bancshares by 1.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 18,825 shares of the bank's stock valued at $1,472,000 after buying an additional 350 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 500 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was purchased at an average cost of $68.20 per share, with a total value of $34,100.00. Following the purchase, the director now owns 289,961 shares of the company's stock, valued at approximately $19,775,340.20. The trade was a 0.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 19,300 shares of company stock valued at $846,265 over the last 90 days. Insiders own 1.72% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on TCBI. Hovde Group decreased 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. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the company a "hold" rating in a research note on Wednesday, May 21st. Piper Sandler dropped their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. DA Davidson reduced their price objective on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of "Hold" and a consensus target price of $78.00.

Texas Capital Bancshares Trading Up 0.2%

Shares of Texas Capital Bancshares stock traded up $0.18 on Monday, reaching $75.54. The company had a trading volume of 382,302 shares, compared to its average volume of 497,922. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 59.02, a P/E/G ratio of 0.75 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. The firm's 50-day moving average price is $70.66 and its two-hundred day moving average price is $75.67. Texas Capital Bancshares, Inc. has a 1 year low of $56.24 and a 1 year high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.07). Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. The firm had revenue of $280.48 million during the quarter, compared to analysts' expectations of $284.40 million. As a group, research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Texas Capital Bancshares Company 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.