Teachers Retirement System of The State of Kentucky lowered its stake in shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) by 13.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,302 shares of the bank’s stock after selling 1,300 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Texas Capital Bancshares were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in TCBI. Crossmark Global Holdings Inc. lifted its stake in Texas Capital Bancshares by 10.8% during the second quarter. Crossmark Global Holdings Inc. now owns 6,380 shares of the bank’s stock worth $584,000 after purchasing an additional 620 shares during the last quarter. Rhumbline Advisers lifted its stake in Texas Capital Bancshares by 0.6% during the second quarter. Rhumbline Advisers now owns 111,693 shares of the bank’s stock worth $10,220,000 after purchasing an additional 668 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Texas Capital Bancshares by 4.1% during the second quarter. Oregon Public Employees Retirement Fund now owns 19,355 shares of the bank’s stock worth $1,771,000 after purchasing an additional 759 shares during the last quarter. Arizona State Retirement System lifted its stake in Texas Capital Bancshares by 2.6% during the second quarter. Arizona State Retirement System now owns 34,488 shares of the bank’s stock worth $3,156,000 after purchasing an additional 868 shares during the last quarter. Finally, First Mercantile Trust Co. lifted its stake in Texas Capital Bancshares by 50.8% during the third quarter. First Mercantile Trust Co. now owns 3,198 shares of the bank’s stock worth $264,000 after purchasing an additional 1,078 shares during the last quarter.
In related news, insider Vince A. Ackerson acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The shares were acquired at an average cost of $67.00 per share, for a total transaction of $134,000.00. Following the completion of the purchase, the insider now directly owns 28,485 shares in the company, valued at $1,908,495. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO C Keith Cargill acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The shares were bought at an average price of $67.59 per share, for a total transaction of $202,770.00. Following the completion of the purchase, the chief executive officer now owns 90,880 shares of the company’s stock, valued at $6,142,579.20. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.
TCBI stock opened at $55.65 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.21 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 0.97 and a beta of 1.82. Texas Capital Bancshares Inc has a 1 year low of $55.45 and a 1 year high of $103.05.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, October 17th. The bank reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.07). Texas Capital Bancshares had a net margin of 23.10% and a return on equity of 13.36%. The company had revenue of $257.69 million for the quarter, compared to the consensus estimate of $257.14 million. During the same quarter in the prior year, the firm earned $1.12 earnings per share. As a group, analysts predict that Texas Capital Bancshares Inc will post 6.01 EPS for the current year.
Several equities analysts recently issued reports on TCBI shares. Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Monday, September 3rd. BidaskClub upgraded Texas Capital Bancshares from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 6th. ValuEngine cut Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Barclays cut their target price on Texas Capital Bancshares from $108.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 3rd. Finally, Wedbush set a $94.00 target price on Texas Capital Bancshares and gave the company a “buy” rating in a research note on Thursday, October 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $96.82.
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Texas Capital Bancshares Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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