South Dakota Investment Council Lowers Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

South Dakota Investment Council lowered its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 63.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,686 shares of the bank's stock after selling 20,394 shares during the quarter. South Dakota Investment Council's holdings in Texas Capital Bancshares were worth $873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. raised its position in shares of Texas Capital Bancshares by 1,089.8% during the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock valued at $44,000 after buying an additional 534 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Texas Capital Bancshares by 127.0% during the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock valued at $62,000 after buying an additional 465 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Texas Capital Bancshares in the 4th quarter worth $115,000. Sterling Capital Management LLC raised its position in Texas Capital Bancshares by 819.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock worth $116,000 after purchasing an additional 1,320 shares during the period. Finally, United Capital Financial Advisors LLC purchased a new position in Texas Capital Bancshares in the 4th quarter worth $202,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TCBI. Piper Sandler decreased their target price on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods lifted their target price on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday. Barclays lifted their target price on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research report on Friday, July 18th. Raymond James Financial decreased their target price on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Finally, Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Texas Capital Bancshares has an average rating of "Hold" and a consensus target price of $83.50.

Texas Capital Bancshares Stock Performance

TCBI stock traded down $1.15 during midday trading on Thursday, reaching $87.12. 132,997 shares of the company's stock traded hands, compared to its average volume of 499,254. Texas Capital Bancshares, Inc. has a 52-week low of $56.24 and a 52-week high of $94.61. The stock has a market cap of $3.99 billion, a P/E ratio of 34.57, a PEG ratio of 0.83 and a beta of 0.66. 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 stock's 50-day moving average is $78.78 and its 200 day moving average is $75.84.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.35. The firm had revenue of $307.46 million during 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 quarter in the prior year, the company posted $0.80 earnings per share. As a group, analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In other 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 purchased at an average cost of $20.28 per share, with a total value of $212,940.00. Following the purchase, the director owned 60,000 shares in the company, valued at approximately $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have acquired 24,800 shares of company stock valued at $735,890. Company insiders own 1.72% of the company's stock.

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.