Teachers Retirement System of The State of Kentucky Decreases Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Teachers Retirement System of The State of Kentucky lowered its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 5.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 51,453 shares of the bank's stock after selling 3,240 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.11% of Texas Capital Bancshares worth $3,844,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Texas Capital Bancshares by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank's stock valued at $367,327,000 after purchasing an additional 20,245 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Texas Capital Bancshares by 0.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,305,685 shares of the bank's stock valued at $258,505,000 after purchasing an additional 28,282 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Texas Capital Bancshares by 9.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 813,028 shares of the bank's stock valued at $60,733,000 after purchasing an additional 68,195 shares in the last quarter. Northern Trust Corp lifted its holdings in Texas Capital Bancshares by 12.0% in the 4th quarter. Northern Trust Corp now owns 660,478 shares of the bank's stock valued at $51,649,000 after purchasing an additional 70,804 shares in the last quarter. Finally, Norges Bank purchased a new position in Texas Capital Bancshares in the 4th quarter valued at $42,050,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Insiders Place Their Bets

In other news, Director Robert W. Stallings bought 10,500 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was bought at an average cost of $20.28 per share, with a total value of $212,940.00. Following the transaction, the director directly owned 60,000 shares in the company, valued at $1,216,800. The trade was a 21.21% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders bought 19,800 shares of company stock valued at $397,090. Insiders own 1.72% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TCBI. Stephens reduced their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Raymond James Financial reduced their price target on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Piper Sandler reduced their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Jefferies Financial Group set a $80.00 price target on Texas Capital Bancshares and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $83.50.

Texas Capital Bancshares Trading Down 1.3%

NASDAQ TCBI traded down $1.13 during trading on Friday, hitting $85.30. The stock had a trading volume of 775,743 shares, compared to its average volume of 547,715. The company has a market capitalization of $3.90 billion, a PE ratio of 33.85, a PEG ratio of 0.78 and a beta of 0.66. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average price of $79.41 and a 200 day moving average price of $76.04. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its earnings results 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. The company had revenue of $307.46 million during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.80 EPS. As a group, equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Texas Capital Bancshares Company 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.