Wellington Management Group LLP Sells 545,902 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Wellington Management Group LLP cut its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 48.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 577,319 shares of the bank's stock after selling 545,902 shares during the period. Wellington Management Group LLP owned 1.25% of Texas Capital Bancshares worth $45,146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TCBI. Norges Bank acquired a new position in Texas Capital Bancshares in the fourth quarter valued at about $42,050,000. Azora Capital LP acquired a new position in Texas Capital Bancshares in the fourth quarter valued at about $25,232,000. Millennium Management LLC boosted its position in Texas Capital Bancshares by 60.6% in the fourth 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Texas Capital Bancshares by 22.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock valued at $58,246,000 after buying an additional 138,734 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Texas Capital Bancshares by 75.5% in the fourth quarter. JPMorgan Chase & Co. now owns 317,292 shares of the bank's stock valued at $24,812,000 after buying an additional 136,507 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TCBI has been the topic of a number of research reports. Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Hovde Group reduced their target price on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. DA Davidson reduced their target price on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Piper Sandler reduced their target price on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Barclays reduced their target price on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $78.00.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 500 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was acquired at an average price of $68.20 per share, with a total value of $34,100.00. Following the completion of the transaction, the director now owns 289,961 shares in the company, valued at approximately $19,775,340.20. This trade represents a 0.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 19,300 shares of company stock valued at $850,815 over the last quarter. Corporate insiders own 1.72% of the company's stock.

Texas Capital Bancshares Stock Down 0.8%

Shares of TCBI stock traded down $0.58 during trading hours on Friday, hitting $71.75. 240,965 shares of the company were exchanged, compared to its average volume of 451,847. The business has a 50 day moving average of $69.78 and a two-hundred day moving average of $76.62. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a 52 week low of $56.24 and a 52 week high of $91.80. The company has a market capitalization of $3.29 billion, a PE ratio of 56.06, a PEG ratio of 0.75 and a beta of 0.62.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. The company had revenue of $280.48 million for the quarter, compared to the consensus estimate of $284.40 million. Analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal 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.