North Reef Capital Management LP Reduces Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

North Reef Capital Management LP decreased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 44.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 928,439 shares of the bank's stock after selling 746,561 shares during the period. Texas Capital Bancshares accounts for approximately 3.3% of North Reef Capital Management LP's investment portfolio, making the stock its 13th largest position. North Reef Capital Management LP owned 2.01% of Texas Capital Bancshares worth $72,604,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TCBI. Picton Mahoney Asset Management purchased a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $30,000. Assetmark Inc. purchased a new position in Texas Capital Bancshares in the 4th quarter valued at approximately $32,000. Venturi Wealth Management LLC purchased a new position in Texas Capital Bancshares in the 4th quarter valued at approximately $37,000. R Squared Ltd purchased a new position in Texas Capital Bancshares in the 4th quarter valued at approximately $41,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Texas Capital Bancshares in the 4th quarter valued at approximately $115,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Insider Activity

In other news, Director Robert W. Stallings acquired 7,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was purchased at an average cost of $21.32 per share, with a total value of $149,240.00. Following the purchase, the director now directly owns 215,413 shares of the company's stock, valued at approximately $4,592,605.16. This trade represents a 3.36 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders acquired 31,000 shares of company stock valued at $1,102,065 in the last three months. 1.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TCBI has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price target on shares of 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. Stephens decreased their price target on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research 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. Hovde Group reduced their price objective on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Finally, Raymond James reduced their price objective on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $76.64.

Texas Capital Bancshares Stock Performance

Texas Capital Bancshares stock traded down $0.93 during mid-day trading on Wednesday, reaching $67.57. 123,251 shares of the company were exchanged, compared to its average volume of 445,502. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $91.80. The firm's 50-day simple moving average is $71.23 and its two-hundred day simple moving average is $77.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $3.10 billion, a PE ratio of 52.79, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74.

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

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.