Texas Capital Bancshares, Inc. $TCBI Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,158,579 shares of the bank’s stock after selling 12,540 shares during the period. Geode Capital Management LLC’s holdings in Texas Capital Bancshares were worth $91,999,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Texas Capital Bank Wealth Management Services Inc grew its stake in shares of Texas Capital Bancshares by 2,249.3% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank’s stock worth $18,630,000 after acquiring an additional 238,785 shares during the last quarter. Intech Investment Management LLC boosted its stake in Texas Capital Bancshares by 22.1% in the 1st quarter. Intech Investment Management LLC now owns 29,790 shares of the bank’s stock worth $2,225,000 after purchasing an additional 5,393 shares in the last quarter. Victory Capital Management Inc. grew its position in Texas Capital Bancshares by 22.2% during the 1st quarter. Victory Capital Management Inc. now owns 117,828 shares of the bank’s stock worth $8,802,000 after purchasing an additional 21,431 shares during the last quarter. Hsbc Holdings PLC increased its stake in Texas Capital Bancshares by 69.0% during the 1st quarter. Hsbc Holdings PLC now owns 19,524 shares of the bank’s stock valued at $1,449,000 after purchasing an additional 7,974 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its holdings in shares of Texas Capital Bancshares by 36.9% in the first quarter. Wolverine Asset Management LLC now owns 71,915 shares of the bank’s stock worth $5,372,000 after buying an additional 19,398 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TCBI has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Texas Capital Bancshares from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 27th. TD Cowen upgraded Texas Capital Bancshares to a “hold” rating in a research note on Thursday, September 25th. Piper Sandler upped their target price on Texas Capital Bancshares from $84.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. DA Davidson reissued a “neutral” rating and set a $91.00 price target on shares of Texas Capital Bancshares in a research report on Thursday. Finally, Hovde Group lifted their price objective on shares of Texas Capital Bancshares from $85.00 to $93.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and a consensus target price of $88.10.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 10,000 shares of the stock in a transaction dated Friday, October 24th. The shares were acquired at an average cost of $20.61 per share, with a total value of $206,100.00. Following the purchase, the director directly owned 265,913 shares in the company, valued at $5,480,466.93. The trade was a 3.91% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Trading Up 3.7%

Shares of NASDAQ:TCBI opened at $87.95 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month high of $94.61. The business has a 50 day moving average of $84.60 and a two-hundred day moving average of $82.16. The company has a market capitalization of $4.01 billion, a PE ratio of 14.39, a PEG ratio of 0.63 and a beta of 0.82.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.41. Texas Capital Bancshares had a net margin of 15.14% and a return on equity of 9.51%. The business had revenue of $340.35 million for the quarter, compared to analysts’ expectations of $327.13 million. During the same quarter last year, the company earned ($1.41) EPS. The business’s revenue was up 171.6% on a year-over-year basis. As a group, analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Texas Capital Bancshares Company Profile

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.