Kennedy Capital Management LLC Cuts Position in Texas Capital Bancshares, Inc. $TCBI

Kennedy Capital Management LLC cut its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 10.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,486 shares of the bank’s stock after selling 20,658 shares during the period. Kennedy Capital Management LLC’s holdings in Texas Capital Bancshares were worth $13,775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TCBI. T. Rowe Price Investment Management Inc. boosted its position in Texas Capital Bancshares by 0.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank’s stock worth $248,936,000 after purchasing an additional 26,786 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Texas Capital Bancshares by 84.8% during the 1st quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank’s stock valued at $105,395,000 after purchasing an additional 657,630 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Texas Capital Bancshares by 12.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 657,626 shares of the bank’s stock worth $52,216,000 after purchasing an additional 71,774 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Texas Capital Bancshares by 2.5% in the 1st quarter. Wellington Management Group LLP now owns 591,488 shares of the bank’s stock worth $44,184,000 after buying an additional 14,169 shares during the last quarter. Finally, Norges Bank bought a new position in Texas Capital Bancshares during the second quarter valued at about $45,364,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $93.35 on Thursday. The firm has a market capitalization of $4.26 billion, a P/E ratio of 15.28, a PEG ratio of 0.59 and a beta of 0.68. Texas Capital Bancshares, Inc. has a one year low of $59.37 and a one year high of $94.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average price of $85.39 and a 200-day moving average price of $83.16.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.41. The company had revenue of $340.35 million for the quarter, compared to analyst estimates of $327.13 million. Texas Capital Bancshares had a return on equity of 9.51% and a net margin of 15.14%.The firm’s revenue for the quarter was up 171.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.41) EPS. As a group, equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on TCBI shares. TD Cowen raised shares of Texas Capital Bancshares to a “hold” rating in a research report on Thursday, September 25th. Hovde Group raised their price target on shares of Texas Capital Bancshares from $85.00 to $93.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Barclays upped their price objective on Texas Capital Bancshares from $85.00 to $90.00 and gave the company an “underweight” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. increased their price objective on Texas Capital Bancshares from $90.00 to $92.00 and gave the company an “underweight” rating in a report on Thursday, October 23rd. Finally, Piper Sandler raised their target price on Texas Capital Bancshares from $84.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $88.10.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 5,000 shares of the stock in a transaction dated Monday, October 27th. The shares were purchased at an average cost of $20.68 per share, with a total value of $103,400.00. Following the completion of the acquisition, the director owned 275,913 shares in the company, valued at $5,705,880.84. This represents a 1.85% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.72% of the stock is currently owned by corporate insiders.

Texas Capital Bancshares 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.