Rhumbline Advisers Decreases Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Rhumbline Advisers reduced its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,206 shares of the bank's stock after selling 3,480 shares during the period. Rhumbline Advisers owned 0.36% of Texas Capital Bancshares worth $12,266,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Texas Capital Bancshares by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank's stock worth $367,327,000 after buying an additional 20,245 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted 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 worth $258,505,000 after buying an additional 28,282 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Texas Capital Bancshares by 22.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock worth $58,246,000 after buying an additional 138,734 shares in the last quarter. Northern Trust Corp lifted its position in shares of Texas Capital Bancshares by 12.0% in the fourth quarter. Northern Trust Corp now owns 660,478 shares of the bank's stock worth $51,649,000 after buying an additional 70,804 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position 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 buying an additional 15,320 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Stock Up 5.1%

Shares of NASDAQ:TCBI opened at $76.05 on Monday. Texas Capital Bancshares, Inc. has a 52-week low of $56.24 and a 52-week high of $91.80. The stock has a market cap of $3.49 billion, a P/E ratio of 59.41, a price-to-earnings-growth ratio of 0.75 and a beta of 0.65. The business's 50 day moving average is $69.59 and its 200 day moving average is $76.09. 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 (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. The firm had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Sell-side analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Piper Sandler reduced their price objective on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. reduced their price objective on Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. Hovde Group reduced their price objective on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Stephens reduced their price objective on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Raymond James reduced their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $78.00.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 500 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were bought at an average price of $68.20 per share, with a total value of $34,100.00. Following the completion of the purchase, the director now directly owns 289,961 shares in the company, valued at $19,775,340.20. This trade represents a 0.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 19,300 shares of company stock valued at $846,265 over the last quarter. 1.72% of the stock is 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.

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