Texas Capital Bancshares, Inc. $TCBI Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its stake in Texas Capital Bancshares by 7.6%, owning approximately 1.49 million shares valued at about $111 million after the sale.
• The bank reported earnings per share of $1.63 for the last quarter, surpassing analyst expectations of $1.28, along with a revenue of $307.46 million.
• Recent analyst updates have adjusted Texas Capital's price targets, with estimates now ranging from $82.00 to $100.00 based on various ratings by multiple financial institutions.

Alliancebernstein L.P. cut its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,491,585 shares of the bank's stock after selling 123,004 shares during the period. Alliancebernstein L.P. owned 3.25% of Texas Capital Bancshares worth $111,421,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in Texas Capital Bancshares in the 1st quarter valued at $528,000. Texas Capital Bank Wealth Management Services Inc raised its holdings in Texas Capital Bancshares by 2,249.3% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank's stock valued at $18,630,000 after acquiring an additional 238,785 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Texas Capital Bancshares in the 4th quarter valued at $479,000. Bank of America Corp DE raised its holdings in Texas Capital Bancshares by 25.0% in the 4th quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock valued at $15,554,000 after acquiring an additional 39,832 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Texas Capital Bancshares during the 1st quarter worth $16,938,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Stock Down 0.8%

Shares of Texas Capital Bancshares stock opened at $86.52 on Friday. The company has a fifty day moving average price of $85.12 and a 200 day moving average price of $77.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. Texas Capital Bancshares, Inc. has a twelve month low of $59.37 and a twelve month high of $94.61. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results 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. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The firm had revenue of $307.46 million during the quarter, compared to analysts' expectations of $298.90 million. During the same period in the prior year, the company earned $0.80 EPS. Equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TCBI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Hovde Group upped 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. JPMorgan Chase & Co. upped their price objective on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Barclays upped their price objective on Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a report on Friday, July 18th. Finally, Citigroup upped their price objective on Texas Capital Bancshares from $69.00 to $79.00 and gave the stock a "sell" rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $83.50.

Insiders Place Their Bets

In other news, Director Robert W. Stallings acquired 10,500 shares of the firm'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 approximately $1,216,800. This represents a 21.21% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.

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