Rhumbline Advisers Lowers Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Rhumbline Advisers cut its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,206 shares of the bank's stock after selling 3,480 shares during the quarter. Rhumbline Advisers owned 0.36% of Texas Capital Bancshares worth $12,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Texas Capital Bancshares by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank's stock valued at $367,327,000 after buying an additional 20,245 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Texas Capital Bancshares by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,305,685 shares of the bank's stock valued at $258,505,000 after acquiring an additional 28,282 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Texas Capital Bancshares by 22.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock valued at $58,246,000 after acquiring an additional 138,734 shares during the last quarter. Northern Trust Corp raised its stake in shares of Texas Capital Bancshares by 12.0% during the fourth quarter. Northern Trust Corp now owns 660,478 shares of the bank's stock valued at $51,649,000 after acquiring an additional 70,804 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Texas Capital Bancshares by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 627,890 shares of the bank's stock worth $49,101,000 after purchasing an additional 15,320 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on TCBI shares. Piper Sandler dropped their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. lowered their price objective on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a report on Monday, April 21st. DA Davidson reduced their target price on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods lowered their target price on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Finally, Barclays dropped their price target on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus price target of $78.00.

Texas Capital Bancshares Stock Performance

TCBI traded up $0.03 during mid-day trading on Thursday, reaching $76.65. 318,211 shares of the company traded hands, compared to its average volume of 457,670. The company's fifty day moving average price is $70.12 and its 200-day moving average price is $76.04. The stock has a market capitalization of $3.52 billion, a P/E ratio of 59.88, a P/E/G ratio of 0.75 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 0.22. Texas Capital Bancshares, Inc. has a 52-week low of $56.24 and a 52-week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.07). The business had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. On average, sell-side analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert W. Stallings purchased 7,000 shares of Texas Capital Bancshares stock in a transaction on Monday, June 2nd. The stock was acquired at an average price of $19.78 per share, for a total transaction of $138,460.00. Following the completion of the transaction, the director now directly owns 255,913 shares in the company, valued at $5,061,959.14. This represents a 2.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have acquired 19,300 shares of company stock worth $846,265. Company insiders own 1.72% of the company's stock.

About Texas Capital Bancshares

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.