Deutsche Bank AG Sells 28,670 Shares of Texas Capital Bancshares, Inc. $TCBI

Key Points

• Deutsche Bank AG reduced its stake in Texas Capital Bancshares by 25.6% during Q1 2023, owning 83,498 shares worth $6.24 million after selling 28,670 shares.
• Analysts have mixed views on Texas Capital Bancshares, with three holding a sell rating, eight a hold rating, and four a buy rating, leading to a consensus target price of $83.50.
• Despite the recent declines, Texas Capital Bancshares reported earnings of $1.63 per share for the last quarter, surpassing estimates, alongside a revenue of $307.46 million.

Deutsche Bank AG lowered its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 25.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,498 shares of the bank's stock after selling 28,670 shares during the period. Deutsche Bank AG owned 0.18% of Texas Capital Bancshares worth $6,237,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TCBI. UMB Bank n.a. grew its holdings in Texas Capital Bancshares by 1,089.8% during the first quarter. UMB Bank n.a. now owns 583 shares of the bank's stock valued at $44,000 after purchasing an additional 534 shares during the last quarter. GAMMA Investing LLC grew its holdings in Texas Capital Bancshares by 127.0% during the first quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock valued at $62,000 after purchasing an additional 465 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Texas Capital Bancshares by 819.9% during the fourth 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. Bayforest Capital Ltd grew its holdings in Texas Capital Bancshares by 69.7% during the first quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock valued at $172,000 after purchasing an additional 948 shares during the last quarter. Finally, United Capital Financial Advisors LLC acquired a new position in Texas Capital Bancshares during the fourth quarter valued at approximately $202,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Stock Performance

TCBI stock traded down $0.76 during midday trading on Tuesday, hitting $83.59. The stock had a trading volume of 443,864 shares, compared to its average volume of 491,570. 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 has a 50-day simple moving average of $82.51 and a 200 day simple moving average of $76.53. Texas Capital Bancshares, Inc. has a 52 week low of $59.37 and a 52 week high of $94.61. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 0.70 and a beta of 0.65.

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 (EPS) for the quarter, topping 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 firm had revenue of $307.46 million during the quarter, compared to analyst estimates of $298.90 million. During the same period in the prior year, the company posted $0.80 earnings per share. As a group, equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 10,500 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the purchase, the director directly owned 60,000 shares of the company's stock, valued at $1,216,800. The trade was a 21.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TCBI shares. JPMorgan Chase & Co. increased their price objective on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the company a "hold" rating in a research report on Wednesday, May 21st. Citigroup increased their price objective on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research report on Friday, July 18th. Raymond James Financial reduced their target price on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Finally, Piper Sandler reduced their target price on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of "Hold" and an average price target of $83.50.

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.