Invesco Ltd. Cuts Position in Texas Capital Bancshares, Inc. $TCBI

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

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. boosted 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 in the last quarter. GAMMA Investing LLC raised 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 acquiring an additional 465 shares during the last quarter. Bayforest Capital Ltd raised its stake in 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 acquiring an additional 948 shares during the last quarter. Mariner LLC purchased a new position in Texas Capital Bancshares in the 4th quarter worth $205,000. Finally, Teza Capital Management LLC purchased a new position in Texas Capital Bancshares in the 4th quarter worth $207,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI traded down $0.06 during trading on Friday, reaching $86.57. 532,479 shares of the company traded hands, compared to its average volume of 433,939. The firm's fifty day simple moving average is $84.27 and its 200 day simple moving average is $76.78. The stock has a market cap of $3.96 billion, a P/E ratio of 34.35, a PEG ratio of 0.71 and a beta of 0.69. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month high of $94.61. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $307.46 million during the quarter, compared to analyst estimates of $298.90 million. During the same quarter last year, the business posted $0.80 EPS. As a group, research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the purchase, the director directly owned 60,000 shares in the company, valued at approximately $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TCBI. Citigroup raised their target price on Texas Capital Bancshares from $69.00 to $79.00 and gave the stock a "sell" rating in a research note on Friday, July 18th. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Hovde Group raised 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. Finally, Barclays raised 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. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $83.50.

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.