Dimensional Fund Advisors LP lessened its stake in Texas Capital Bancshares Inc (NASDAQ:TCBI) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,083,898 shares of the bank’s stock after selling 103,282 shares during the quarter. Dimensional Fund Advisors LP owned about 2.18% of Texas Capital Bancshares worth $92,998,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at $101,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Texas Capital Bancshares by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the bank’s stock valued at $156,000 after acquiring an additional 248 shares during the period. Rehmann Capital Advisory Group purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at $201,000. Hilton Capital Management LLC purchased a new position in shares of Texas Capital Bancshares in the 2nd quarter valued at $201,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Texas Capital Bancshares in the 2nd quarter valued at $201,000.
Texas Capital Bancshares Inc (NASDAQ TCBI) traded up $0.55 during trading on Friday, reaching $98.60. 347,652 shares of the company traded hands, compared to its average volume of 499,941. The stock has a market cap of $4,890.00, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66. Texas Capital Bancshares Inc has a 12-month low of $69.65 and a 12-month high of $99.35. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.27 and a quick ratio of 1.22.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, October 18th. The bank reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.01. Texas Capital Bancshares had a net margin of 22.50% and a return on equity of 10.40%. The company had revenue of $204.40 million during the quarter, compared to the consensus estimate of $214.08 million. During the same quarter in the previous year, the firm earned $0.87 EPS. The company’s revenue was up 11.7% on a year-over-year basis. sell-side analysts predict that Texas Capital Bancshares Inc will post 4.04 earnings per share for the current year.
A number of equities analysts have recently commented on the stock. Barclays raised their target price on shares of Texas Capital Bancshares from $87.00 to $103.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Wedbush downgraded shares of Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and cut their target price for the company from $88.00 to $87.00 in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Tuesday, September 19th. BidaskClub raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $98.50 target price on shares of Texas Capital Bancshares in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Texas Capital Bancshares currently has a consensus rating of “Buy” and an average price target of $95.83.
In other news, COO Peter B. Bartholow sold 3,500 shares of Texas Capital Bancshares stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $87.52, for a total value of $306,320.00. Following the completion of the transaction, the chief operating officer now directly owns 34,171 shares of the company’s stock, valued at approximately $2,990,645.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.47% of the company’s stock.
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Texas Capital Bancshares Profile
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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