Jefferies Financial Group Inc. Sells 11,400 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Key Points

• Jefferies Financial Group Inc. has significantly reduced its holdings in Texas Capital Bancshares by 68.5%, now owning just 5,250 shares after selling 11,400 during the first quarter.
• Multiple institutional investors are actively changing their stakes in Texas Capital Bancshares, with Bayforest Capital Ltd and XTX Topco Ltd increasing their positions by nearly 70%.
• Texas Capital Bancshares reported earnings of $1.63 per share, exceeding analysts' expectations of $1.28, with a revenue of $307.46 million for the quarter.

Jefferies Financial Group Inc. decreased its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 68.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,250 shares of the bank's stock after selling 11,400 shares during the period. Jefferies Financial Group Inc.'s holdings in Texas Capital Bancshares were worth $392,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TCBI. Wealth Enhancement Advisory Services LLC purchased a new position in Texas Capital Bancshares in the first quarter valued at approximately $528,000. Nomura Holdings Inc. bought a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at $479,000. Bank of America Corp DE lifted its position in shares of Texas Capital Bancshares by 25.0% during the 4th quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock valued at $15,554,000 after buying an additional 39,832 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Texas Capital Bancshares during the 1st quarter worth $16,938,000. Finally, Edgestream Partners L.P. increased its holdings in Texas Capital Bancshares by 28.8% in the 1st quarter. Edgestream Partners L.P. now owns 131,139 shares of the bank's stock worth $9,796,000 after acquiring an additional 29,341 shares during the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TCBI has been the subject of a number of research reports. 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. Citigroup upped their price target 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. DA Davidson reduced their price objective on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. 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 report on Friday, July 18th. Finally, Raymond James Financial cut their price target on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $83.50.

Texas Capital Bancshares Price Performance

Shares of TCBI stock traded up $0.47 during trading on Friday, hitting $80.17. The company had a trading volume of 325,581 shares, compared to its average volume of 579,412. The stock's 50-day moving average is $81.38 and its two-hundred day moving average is $76.34. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 0.67 and a beta of 0.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. Texas Capital Bancshares, Inc. has a 52 week low of $58.03 and a 52 week high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.35. The firm had revenue of $307.46 million for the quarter, compared to analyst estimates 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 prior year, the firm earned $0.80 EPS. As a group, analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert W. Stallings purchased 10,500 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.72% of the stock is currently owned by corporate insiders.

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.