Retirement Systems of Alabama Has $4.01 Million Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Retirement Systems of Alabama lessened its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,118 shares of the bank’s stock after selling 1,463 shares during the quarter. Retirement Systems of Alabama owned about 0.12% of Texas Capital Bancshares worth $4,010,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TCBI. Geode Capital Management LLC grew its position in Texas Capital Bancshares by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock worth $81,856,000 after purchasing an additional 13,022 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Texas Capital Bancshares by 15.4% in the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after buying an additional 150,301 shares during the period. AQR Capital Management LLC grew its position in Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after buying an additional 506,094 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Texas Capital Bancshares by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock valued at $40,792,000 after acquiring an additional 10,171 shares during the period. Finally, American Century Companies Inc. raised its holdings in Texas Capital Bancshares by 43.8% in the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after acquiring an additional 171,263 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Trading Down 1.4 %

Shares of NASDAQ TCBI opened at $76.78 on Friday. Texas Capital Bancshares, Inc. has a fifty-two week low of $54.68 and a fifty-two week high of $91.80. The firm has a market capitalization of $3.55 billion, a P/E ratio of 426.56, a P/E/G ratio of 0.80 and a beta of 1.14. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $83.08 and its 200 day simple moving average is $70.93.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. On average, analysts predict that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $77.00 to $82.00 in a report on Friday, October 18th. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their price target for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Tuesday, September 17th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Texas Capital Bancshares currently has an average rating of “Hold” and an average price target of $74.69.

Insiders Place Their Bets

In other news, Director Robert W. Stallings purchased 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.53% 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.