AlphaQuest LLC Has $745,000 Stock Holdings in Texas Capital Bancshares, Inc. $TCBI

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its position in shares of Texas Capital Bancshares by 1,089.8% during the first quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after buying an additional 534 shares during the period. GAMMA Investing LLC boosted 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 valued at $62,000 after purchasing an additional 465 shares during the last quarter. Bayforest Capital Ltd boosted its position 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. Sivia Capital Partners LLC bought a new position in Texas Capital Bancshares in the first quarter valued at approximately $204,000. Finally, Mariner LLC bought a new position in Texas Capital Bancshares in the fourth quarter valued at approximately $205,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock traded down $0.06 during mid-day trading on Friday, reaching $86.57. 532,479 shares of the company were exchanged, compared to its average volume of 440,214. The company has a fifty day simple moving average of $84.27 and a 200-day simple moving average of $76.82. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $94.61. 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 firm has a market cap of $3.96 billion, a PE ratio of 34.35, a PEG ratio of 0.71 and a beta of 0.65.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted 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 firm had revenue of $307.46 million for the quarter, compared to analyst estimates of $298.90 million. During the same quarter last year, the company earned $0.80 EPS. As a group, equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were bought at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the purchase, the director owned 60,000 shares in the company, valued at approximately $1,216,800. This trade represents a 21.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TCBI. Hovde Group raised their price target on Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Barclays upped their price objective on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods upped their price objective on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the company a "hold" rating in a research note on Wednesday, May 21st. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus 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.