Texas Capital Bancshares, Inc. $TCBI Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has drastically reduced its stake in Texas Capital Bancshares by 78.3%, selling over 403,000 shares and now holding only $8.3 million worth of the company's stock.
• Institutional investors continue to engage with Texas Capital Bancshares, with notable transactions including purchases by Wealth Enhancement Advisory Services and Nomura Holdings, indicating ongoing interest in the company's stock.
• Texas Capital Bancshares reported a strong quarterly performance, beating earnings estimates with $1.63 EPS and a revenue of $307.46 million, surpassing analysts' expectations.

Invesco Ltd. trimmed its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 78.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,577 shares of the bank's stock after selling 403,561 shares during the quarter. Invesco Ltd. owned 0.24% of Texas Capital Bancshares worth $8,335,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Wolverine Asset Management LLC increased its position in shares of Texas Capital Bancshares by 36.9% during the first quarter. Wolverine Asset Management LLC now owns 71,915 shares of the bank's stock valued at $5,372,000 after acquiring an additional 19,398 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Texas Capital Bancshares by 167.8% during the first quarter. Headlands Technologies LLC now owns 9,762 shares of the bank's stock valued at $729,000 after acquiring an additional 6,117 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Texas Capital Bancshares by 47.5% during the first quarter. Jupiter Asset Management Ltd. now owns 152,459 shares of the bank's stock valued at $11,389,000 after acquiring an additional 49,129 shares during the last quarter. Bayforest Capital Ltd increased its position 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 acquiring an additional 948 shares during the last quarter. Finally, XTX Topco Ltd increased its position in shares of Texas Capital Bancshares by 69.7% during the first quarter. XTX Topco Ltd now owns 7,359 shares of the bank's stock valued at $550,000 after acquiring an additional 3,022 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Stock Down 0.1%

Texas Capital Bancshares stock traded down $0.06 during midday trading on Friday, reaching $86.57. The company's stock had a trading volume of 532,479 shares, compared to its average volume of 492,812. Texas Capital Bancshares, Inc. has a fifty-two week low of $59.37 and a fifty-two week high of $94.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.96 billion, a P/E ratio of 34.35, a P/E/G ratio of 0.73 and a beta of 0.65. The business has a 50-day simple moving average of $84.05 and a 200-day simple moving average of $76.84.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.35. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.The company had revenue of $307.46 million for the quarter, compared to analysts' expectations of $298.90 million. During the same period last year, the firm earned $0.80 earnings per share. On average, research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Barclays increased their target price on 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 target price on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Keefe, Bruyette & Woods increased their target price on Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Finally, Hovde Group increased their target price on Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $83.50.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,500 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were bought at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the purchase, the director owned 60,000 shares in the company, valued at $1,216,800. This trade represents a 21.21% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.