Hodges Capital Management Inc. Sells 117,817 Shares of Texas Capital Bancshares, Inc. $TCBI

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. cut its holdings 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 disclosure with the SEC. The institutional investor owned 135,156 shares of the bank's stock after selling 117,817 shares during the period. Texas Capital Bancshares accounts for 1.0% of Hodges Capital Management Inc.'s holdings, making the stock its 29th biggest holding. Hodges Capital Management Inc. owned about 0.29% of Texas Capital Bancshares worth $10,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TCBI. UMB Bank n.a. boosted 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 purchasing an additional 534 shares in the last quarter. GAMMA Investing LLC boosted 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 purchasing an additional 465 shares in the last quarter. State of Wyoming bought a new position in shares of Texas Capital Bancshares during the first quarter valued at approximately $70,000. Bayforest Capital Ltd boosted its stake in shares of Texas Capital Bancshares by 69.7% during the first quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock valued at $172,000 after purchasing an additional 948 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Texas Capital Bancshares during the first quarter valued at approximately $194,000. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Trading Up 0.1%

NASDAQ:TCBI opened at $87.35 on Friday. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $94.61. The firm has a fifty day simple moving average of $85.44 and a 200-day simple moving average of $77.21. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $4.00 billion, a P/E ratio of 34.66, a PEG ratio of 0.72 and a beta of 0.69.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The business had revenue of $307.46 million during the quarter, compared to the consensus estimate of $298.90 million. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on TCBI shares. Citigroup raised their target price on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research note on Friday, July 18th. Hovde Group raised their target price on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. raised their target price on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, Barclays raised their target price on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $84.00.

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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