Vanguard Group Inc. Reduces Stock Position in Texas Capital Bancshares, Inc. $TCBI

Vanguard Group Inc. trimmed its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 1.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,629,399 shares of the bank’s stock after selling 74,604 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Texas Capital Bancshares worth $391,323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new stake in Texas Capital Bancshares in the third quarter valued at approximately $39,000. True Wealth Design LLC boosted its holdings in shares of Texas Capital Bancshares by 106.8% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the bank’s stock valued at $54,000 after acquiring an additional 332 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Texas Capital Bancshares in the third quarter worth $60,000. EverSource Wealth Advisors LLC raised its holdings in shares of Texas Capital Bancshares by 452.6% during the second quarter. EverSource Wealth Advisors LLC now owns 746 shares of the bank’s stock worth $59,000 after purchasing an additional 611 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Texas Capital Bancshares by 10.0% during the third quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $113,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Buying and Selling

In other news, Director Laura L. Whitley acquired 500 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, January 26th. The stock was purchased at an average cost of $97.51 per share, with a total value of $48,755.00. Following the purchase, the director owned 7,961 shares in the company, valued at $776,277.11. This trade represents a 6.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings acquired 20,000 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was purchased at an average price of $22.14 per share, for a total transaction of $442,800.00. Following the acquisition, the director directly owned 335,913 shares in the company, valued at $7,437,113.82. This represents a 6.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 23,000 shares of company stock valued at $582,155 in the last three months. Insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Hovde Group increased their price target on Texas Capital Bancshares from $93.00 to $102.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 27th. TD Cowen raised their target price on Texas Capital Bancshares from $103.00 to $110.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Stephens lifted their price target on Texas Capital Bancshares from $111.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Royal Bank Of Canada upped their price objective on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Friday, January 23rd. Finally, Zacks Research raised shares of Texas Capital Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $101.17.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $101.50 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $4.48 billion, a PE ratio of 14.93, a P/E/G ratio of 0.48 and a beta of 0.68. Texas Capital Bancshares, Inc. has a fifty-two week low of $59.37 and a fifty-two week high of $108.92. The company has a fifty day moving average of $98.61 and a two-hundred day moving average of $90.73.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, January 22nd. The bank reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.30. Texas Capital Bancshares had a net margin of 16.52% and a return on equity of 10.05%. The business had revenue of $327.48 million during the quarter, compared to analysts’ expectations of $324.09 million. During the same quarter in the previous year, the company earned $1.43 earnings per share. As a group, research analysts forecast 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 is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.