State Street Corp Sells 94,242 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

State Street Corp decreased its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,448,759 shares of the bank’s stock after selling 94,242 shares during the period. State Street Corp owned 0.05% of Texas Capital Bancshares worth $174,988,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TCBI. Innealta Capital LLC bought a new position in shares of Texas Capital Bancshares during the second quarter valued at approximately $26,000. Blue Trust Inc. increased its position in Texas Capital Bancshares by 89.9% during 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 during the period. Icon Wealth Advisors LLC bought a new position in Texas Capital Bancshares in the 3rd quarter worth $31,000. CWM LLC lifted its position in shares of Texas Capital Bancshares by 40.8% in the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after purchasing an additional 275 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Texas Capital Bancshares during the 3rd quarter valued at about $71,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Down 1.3 %

Shares of Texas Capital Bancshares stock opened at $85.53 on Friday. The company has a 50-day simple moving average of $82.25 and a two-hundred day simple moving average of $70.17. The stock has a market capitalization of $3.95 billion, a PE ratio of 475.17, a price-to-earnings-growth ratio of 0.83 and a beta of 1.14. Texas Capital Bancshares, Inc. has a 52-week low of $54.68 and a 52-week high of $91.80. 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 announced its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The company had revenue of $304.91 million during the quarter, compared to analyst estimates of $279.64 million. On average, analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current fiscal year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average price of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now owns 84,587 shares in the company, valued at $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Raymond James raised 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 report on Tuesday, September 17th. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their price target for the company from $51.00 to $77.00 in a research report on Monday, September 9th. Truist Financial increased their price objective on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Piper Sandler cut shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $77.00 to $82.00 in a report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $74.69.

Texas Capital Bancshares 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.