Comerica Bank reduced its holdings in Texas Capital Bancshares Inc (NASDAQ:TCBI) by 20.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,587 shares of the bank’s stock after selling 31,574 shares during the quarter. Comerica Bank owned approximately 0.25% of Texas Capital Bancshares worth $12,129,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of TCBI. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Texas Capital Bancshares in the 3rd quarter worth $101,000. Rehmann Capital Advisory Group acquired a new position in shares of Texas Capital Bancshares during the 3rd quarter worth about $201,000. Signature Financial Management Inc. acquired a new position in shares of Texas Capital Bancshares during the 3rd quarter worth about $215,000. Legato Capital Management LLC acquired a new position in shares of Texas Capital Bancshares during the 4th quarter worth about $227,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Texas Capital Bancshares in the 2nd quarter valued at about $201,000.
Several brokerages recently issued reports on TCBI. BidaskClub downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Barclays reissued a “neutral” rating and issued a $104.00 price target (up from $90.00) on shares of Texas Capital Bancshares in a report on Friday, January 26th. DA Davidson raised their target price on shares of Texas Capital Bancshares to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Bank of America raised their target price on shares of Texas Capital Bancshares from $110.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $98.00 price target on shares of Texas Capital Bancshares in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Texas Capital Bancshares presently has an average rating of “Hold” and a consensus target price of $98.75.
In other news, CEO C Keith Cargill bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average price of $90.60 per share, with a total value of $181,200.00. Following the acquisition, the chief executive officer now owns 82,286 shares of the company’s stock, valued at approximately $7,455,111.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.47% of the company’s stock.
Texas Capital Bancshares Inc (NASDAQ TCBI) traded up $0.50 during trading on Tuesday, reaching $90.25. 451,900 shares of the company traded hands, compared to its average volume of 496,951. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $4,455.49, a PE ratio of 22.00, a PEG ratio of 1.23 and a beta of 1.77. Texas Capital Bancshares Inc has a 1-year low of $69.65 and a 1-year high of $102.90.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, January 24th. The bank reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.03. Texas Capital Bancshares had a net margin of 20.67% and a return on equity of 10.85%. The firm had revenue of $230.02 million for the quarter, compared to analysts’ expectations of $219.78 million. During the same period in the previous year, the company earned $0.96 earnings per share. equities analysts predict that Texas Capital Bancshares Inc will post 6.07 EPS for the current fiscal year.
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Texas Capital Bancshares Company 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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