Sendero Wealth Management LLC Cuts Stock Position in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Sendero Wealth Management LLC has decreased its stake in Texas Capital Bancshares by 43.2% in the second quarter, now holding 10,000 shares worth approximately $794,000.
• Institutional investors dominate the company's ownership, with 96.88% of the stock held by institutions and hedge funds, while major firms such as AQR Capital Management and MetLife Investment Management have significantly increased their positions.
• Wall Street analysts have mixed views on the stock, with a consensus rating of "Hold" and an average price target of $84.00, reflecting varying opinions on its future performance.

Sendero Wealth Management LLC trimmed its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 43.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the bank's stock after selling 7,600 shares during the period. Sendero Wealth Management LLC's holdings in Texas Capital Bancshares were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in Texas Capital Bancshares by 84.8% in the 1st quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank's stock worth $105,395,000 after acquiring an additional 657,630 shares during the period. Nuveen LLC acquired a new stake in Texas Capital Bancshares during the first quarter valued at approximately $25,808,000. Texas Capital Bank Wealth Management Services Inc boosted its holdings in Texas Capital Bancshares by 2,249.3% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank's stock worth $18,630,000 after purchasing an additional 238,785 shares during the period. SG Americas Securities LLC bought a new stake in shares of Texas Capital Bancshares during the 1st quarter valued at about $16,938,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Texas Capital Bancshares by 339.3% in the 1st quarter. MetLife Investment Management LLC now owns 234,240 shares of the bank's stock worth $17,498,000 after purchasing an additional 180,914 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Cowen assumed coverage on shares of Texas Capital Bancshares in a report on Wednesday, September 24th. They issued a "hold" rating for the company. Keefe, Bruyette & Woods raised their target price on Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. 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. Hovde Group increased their price objective on Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Texas Capital Bancshares in a report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $84.00.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock opened at $84.72 on Monday. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year 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. The company has a 50 day moving average of $84.95 and a 200-day moving average of $78.39. The company has a market cap of $3.88 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 0.70 and a beta of 0.67.

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, beating 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 return on equity of 10.36% and a net margin of 6.79%.During the same period last year, the firm posted $0.80 earnings per share. As a group, equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal 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.

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