Penn Capital Management Company LLC Cuts Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Penn Capital Management Company LLC lessened its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 26.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 196,929 shares of the bank's stock after selling 69,059 shares during the period. Texas Capital Bancshares makes up approximately 1.5% of Penn Capital Management Company LLC's portfolio, making the stock its 12th biggest holding. Penn Capital Management Company LLC owned 0.43% of Texas Capital Bancshares worth $15,400,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Amalgamated Bank raised its position in shares of Texas Capital Bancshares by 0.8% in the fourth quarter. Amalgamated Bank now owns 20,791 shares of the bank's stock valued at $1,626,000 after purchasing an additional 166 shares during the period. Xponance Inc. raised its holdings in Texas Capital Bancshares by 4.8% during the 4th quarter. Xponance Inc. now owns 6,569 shares of the bank's stock valued at $514,000 after acquiring an additional 300 shares during the period. Savant Capital LLC lifted its position in shares of Texas Capital Bancshares by 5.7% during the fourth quarter. Savant Capital LLC now owns 5,604 shares of the bank's stock worth $438,000 after acquiring an additional 303 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth $30,000. Finally, LPL Financial LLC grew its position in shares of Texas Capital Bancshares by 4.6% in the fourth quarter. LPL Financial LLC now owns 8,776 shares of the bank's stock valued at $686,000 after purchasing an additional 382 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Robert W. Stallings purchased 500 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were bought at an average price of $68.20 per share, for a total transaction of $34,100.00. Following the purchase, the director now directly owns 289,961 shares of the company's stock, valued at approximately $19,775,340.20. This represents a 0.17 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 26,726 shares of company stock worth $778,504 in the last quarter. 1.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TCBI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on shares of 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. Barclays decreased their target price on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price target 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. StockNews.com raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Hovde Group cut their price target on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research note 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $76.64.

Texas Capital Bancshares Trading Up 0.5 %

Shares of TCBI stock traded up $0.34 during trading hours on Tuesday, reaching $68.88. The company's stock had a trading volume of 99,816 shares, compared to its average volume of 528,603. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.16 billion, a P/E ratio of 53.81, a P/E/G ratio of 0.75 and a beta of 0.74. The firm's fifty day simple moving average is $71.48 and its 200 day simple moving average is $77.84. Texas Capital Bancshares, Inc. has a one year low of $56.24 and a one year high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results 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 net margin of 3.99% and a return on equity of 9.14%. The company had revenue of $280.48 million for the quarter, compared to analysts' expectations of $284.40 million. Equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current 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.