Texas Capital Bancshares, Inc. $TCBI Shares Sold by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. reduced its stake in Texas Capital Bancshares by 46.6%, selling 117,817 shares and retaining 135,156 shares, which represent 1.0% of the firm's total holdings.
• Other investors have also increased their positions in Texas Capital Bancshares, with UMB Bank n.a. boosting its stake by 1,089.8% and Bayforest Capital Ltd increasing its stake by 69.7% in the same quarter.
• Texas Capital Bancshares reported better-than-expected earnings with $1.63 EPS, surpassing analyst estimates of $1.28, and had a revenue of $307.46 million for the quarter.

Hodges Capital Management Inc. decreased its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 46.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 135,156 shares of the bank's stock after selling 117,817 shares during the quarter. Texas Capital Bancshares makes up 1.0% of Hodges Capital Management Inc.'s holdings, making the stock its 29th largest holding. Hodges Capital Management Inc. owned 0.29% of Texas Capital Bancshares worth $10,096,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings 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 buying an additional 534 shares during the last quarter. GAMMA Investing LLC boosted its position in Texas Capital Bancshares by 127.0% in the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock valued at $62,000 after buying an additional 465 shares during the period. State of Wyoming purchased a new stake in Texas Capital Bancshares in the 1st quarter valued at about $70,000. Bayforest Capital Ltd lifted its position in shares of Texas Capital Bancshares by 69.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock worth $172,000 after purchasing an additional 948 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Texas Capital Bancshares in the 1st quarter worth approximately $194,000. 96.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TCBI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Barclays increased their price objective on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. increased their price target on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Citigroup increased their price objective on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a report on Friday, July 18th. Finally, Hovde Group increased their price objective on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $84.00.

Texas Capital Bancshares Stock Up 2.4%

Shares of NASDAQ:TCBI traded up $2.04 during trading on Wednesday, hitting $86.22. 76,990 shares of the company were exchanged, compared to its average volume of 482,998. The stock has a market capitalization of $3.95 billion, a P/E ratio of 34.11, a PEG ratio of 0.70 and a beta of 0.69. 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, Inc. has a 12-month low of $59.37 and a 12-month high of $94.61. The firm's 50 day moving average price is $85.43 and its 200-day moving average price is $77.34.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate 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 net margin of 6.79% and a return on equity of 10.36%. During the same quarter in the previous year, the firm earned $0.80 EPS. On average, 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.