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

South Dakota Investment Council decreased its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 63.6% in the 1st quarter, according to the company in its most recent disclosure 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 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in TCBI. UMB Bank n.a. lifted its holdings 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 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 worth $62,000 after buying an additional 465 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Texas Capital Bancshares in the 4th quarter worth approximately $115,000. Sterling Capital Management LLC lifted its holdings in Texas Capital Bancshares by 819.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock valued at $116,000 after purchasing an additional 1,320 shares during the last quarter. Finally, United Capital Financial Advisors LLC bought a new position in shares of Texas Capital Bancshares in the fourth quarter valued at approximately $202,000. Institutional investors own 96.88% of the company's stock.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were purchased at an average cost of $20.28 per share, with a total value of $212,940.00. Following the completion of the purchase, the director owned 60,000 shares in the company, valued at $1,216,800. This represents a 21.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 19,800 shares of company stock valued at $397,090 in the last quarter. 1.72% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on TCBI. Barclays boosted their target price on Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. boosted their price target on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Hovde Group upped their target price on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, Citigroup increased their price target on Texas Capital Bancshares from $69.00 to $79.00 and gave the stock a "sell" rating in a report on Friday, July 18th. Three equities research 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $83.50.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock traded down $1.63 during mid-day trading on Friday, reaching $84.81. The company had a trading volume of 190,812 shares, compared to its average volume of 498,254. Texas Capital Bancshares, Inc. has a fifty-two week low of $56.24 and a fifty-two week 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 market cap of $3.88 billion, a P/E ratio of 33.56, a P/E/G ratio of 0.81 and a beta of 0.66. The business has a fifty day simple moving average of $79.22 and a 200 day simple moving average of $75.98.

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, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $298.90 million. During the same quarter last year, the business posted $0.80 EPS. On average, equities research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share 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.