Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by Banc Funds Co. LLC

Banc Funds Co. LLC reduced its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,205 shares of the bank’s stock after selling 4,800 shares during the period. Texas Capital Bancshares makes up about 1.8% of Banc Funds Co. LLC’s holdings, making the stock its 16th largest holding. Banc Funds Co. LLC owned about 0.50% of Texas Capital Bancshares worth $16,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TCBI. Blue Trust Inc. raised its position in Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after purchasing an additional 169 shares in the last quarter. Innealta Capital LLC acquired a new stake in Texas Capital Bancshares in the second quarter valued at approximately $26,000. Icon Wealth Advisors LLC purchased a new position in Texas Capital Bancshares in the third quarter worth approximately $31,000. CWM LLC grew its holdings in Texas Capital Bancshares by 40.8% during the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after acquiring an additional 275 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Texas Capital Bancshares in the 3rd quarter valued at approximately $71,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Trading Down 0.9 %

NASDAQ TCBI opened at $88.45 on Monday. Texas Capital Bancshares, Inc. has a one year low of $53.69 and a one year high of $91.80. The firm has a market cap of $4.09 billion, a PE ratio of 491.39, a P/E/G ratio of 0.84 and a beta of 1.12. The firm’s fifty day moving average is $79.30 and its two-hundred day moving average is $68.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, beating the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The firm had revenue of $304.91 million during the quarter, compared to the consensus estimate of $279.64 million. Analysts expect that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TCBI shares. JPMorgan Chase & Co. lifted their price objective on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. DA Davidson lifted their price target on Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $77.00 to $82.00 in a report on Friday, October 18th. Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada increased their price target on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.00.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the purchase, the director now directly owns 84,587 shares in the company, valued at $1,800,011.36. The trade was a 30.97 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.99% of the company’s stock.

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.