Northern Trust Corp Sells 19,399 Shares of Texas Capital Bancshares, Inc. $TCBI

Key Points

• Northern Trust Corp has reduced its stake in Texas Capital Bancshares by 2.9%, selling 19,399 shares to own approximately 641,079 shares, valued at around $47.89 million.
• Wall Street analysts have mixed ratings on Texas Capital Bancshares, with four analysts rating it as a "Buy", seven as a "Hold," and three as a "Sell," while the consensus target price is set at $83.50.
• In a recent earnings report, Texas Capital Bancshares reported an EPS of $1.63, exceeding estimates, and revenue of $307.46 million, above the anticipated $298.90 million.

Northern Trust Corp reduced its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 641,079 shares of the bank's stock after selling 19,399 shares during the period. Northern Trust Corp owned about 1.40% of Texas Capital Bancshares worth $47,889,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its position in 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 acquiring an additional 534 shares during the last quarter. GAMMA Investing LLC grew its position in 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 acquiring an additional 465 shares during the last quarter. Bayforest Capital Ltd grew its position in 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. Sivia Capital Partners LLC bought a new position in Texas Capital Bancshares during the first quarter valued at approximately $204,000. Finally, Mariner LLC bought a new position in Texas Capital Bancshares during the fourth quarter valued at approximately $205,000. 96.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was bought 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 of the company's stock, valued at $1,216,800. The trade was a 21.21% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.72% of the stock is owned by insiders.

Analysts Set New Price Targets

TCBI has been the topic of a number of recent research reports. Citigroup increased 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 report on Friday, July 18th. Barclays increased their price objective on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a research note on Friday, July 18th. Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. JPMorgan Chase & Co. increased their price objective on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Finally, Keefe, Bruyette & Woods increased their price objective on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Four research 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $83.50.

Texas Capital Bancshares Trading Down 0.7%

TCBI stock traded down $0.60 on Tuesday, reaching $85.97. The company's stock had a trading volume of 391,220 shares, compared to its average volume of 414,641. The business has a fifty day simple moving average of $84.61 and a two-hundred day simple moving average of $76.88. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month high of $94.61. The firm has a market cap of $3.93 billion, a PE ratio of 34.12, a PEG ratio of 0.71 and a beta of 0.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced 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. 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 during the quarter, compared to analyst estimates of $298.90 million. During the same quarter last year, the firm posted $0.80 earnings per share. As a group, research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

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.