Texas Capital Bancshares, Inc. $TCBI Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC reduced its stake in Texas Capital Bancshares by 59.2%, selling 14,471 shares and holding 9,978 shares valued at approximately $745,000 as of the latest SEC filing.
• Several institutional investors, including T. Rowe Price and Capital Fund Management, have increased their stakes significantly in the bank, indicating strong institutional interest with 96.88% of the stock owned by institutional investors and hedge funds.
• The bank reported an EPS of $1.63 for the last quarter, exceeding expectations and showcasing a positive growth trend compared to last year's EPS of $0.80.

AlphaQuest LLC lowered its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 59.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,978 shares of the bank's stock after selling 14,471 shares during the quarter. AlphaQuest LLC's holdings in Texas Capital Bancshares were worth $745,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TCBI. T. Rowe Price Investment Management Inc. raised its holdings in shares of Texas Capital Bancshares by 0.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank's stock worth $248,936,000 after acquiring an additional 26,786 shares during the period. Massachusetts Financial Services Co. MA raised 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 buying an additional 68,195 shares during the period. Northern Trust Corp raised 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 buying an additional 70,804 shares during the period. Wellington Management Group LLP raised its holdings in Texas Capital Bancshares by 2.5% in the 1st quarter. Wellington Management Group LLP now owns 591,488 shares of the bank's stock valued at $44,184,000 after buying an additional 14,169 shares during the period. Finally, Millennium Management LLC raised its holdings in Texas Capital Bancshares by 60.6% in the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock valued at $30,144,000 after buying an additional 145,393 shares during the period. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Stock Down 0.6%

Shares of Texas Capital Bancshares stock traded down $0.48 on Thursday, reaching $86.63. 395,709 shares of the company were exchanged, compared to its average volume of 492,879. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $94.61. The company has a market cap of $3.96 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The stock's 50 day moving average price is $83.83 and its 200-day moving average price is $76.81.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $307.46 million during the quarter, compared to the consensus estimate of $298.90 million. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, equities analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Hovde Group boosted their price objective on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Barclays boosted their price objective on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus price target of $83.50.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the 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 completion of the acquisition, the director directly owned 60,000 shares of the company's stock, valued at $1,216,800. This trade represents a 21.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.72% of the stock is owned by company insiders.

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.