Wellington Management Group LLP lessened its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 48.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management purchased a new stake in Texas Capital Bancshares in the 4th quarter valued at about $30,000. Assetmark Inc. purchased a new stake in Texas Capital Bancshares in the 4th quarter valued at about $32,000. Venturi Wealth Management LLC purchased a new stake in Texas Capital Bancshares in the 4th quarter valued at about $37,000. R Squared Ltd purchased a new stake in Texas Capital Bancshares in the 4th quarter valued at about $41,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Texas Capital Bancshares in the 4th quarter valued at about $115,000. Hedge funds and other institutional investors own 96.88% of the company's stock.
Insider Buying and Selling
In other news, Director Robert W. Stallings acquired 5,000 shares of Texas Capital Bancshares stock in a transaction on Friday, April 25th. The stock was bought at an average price of $67.76 per share, for a total transaction of $338,800.00. Following the completion of the purchase, the director now owns 90,039 shares in the company, valued at $6,101,042.64. This represents a 5.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 12,300 shares of company stock worth $707,805 over the last 90 days. 1.72% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several analysts recently issued reports on TCBI shares. DA Davidson reduced their price objective on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Barclays reduced their price objective on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Piper Sandler reduced their price objective on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods dropped their target price on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. dropped their target price on Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $78.00.
View Our Latest Stock Report on Texas Capital Bancshares
Texas Capital Bancshares Stock Up 0.9%
TCBI stock traded up $0.67 during trading on Tuesday, hitting $72.14. 57,174 shares of the company's stock were exchanged, compared to its average volume of 449,876. The business has a 50-day moving average price of $69.68 and a two-hundred day moving average price of $76.42. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 56.36, a PEG ratio of 0.75 and a beta of 0.62. Texas Capital Bancshares, Inc. has a 52-week low of $56.24 and a 52-week high of $91.80. 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 (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.07). The business had revenue of $280.48 million for the quarter, compared to analysts' expectations of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. As a group, equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.
Texas Capital Bancshares Company Profile
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Free Report)
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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