Texas Capital Bancshares Inc (TCBI) Stake Cut by Signature Financial Management Inc.

Signature Financial Management Inc. cut its stake in Texas Capital Bancshares Inc (NASDAQ:TCBI) by 16.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,500 shares of the bank’s stock after selling 500 shares during the period. Signature Financial Management Inc.’s holdings in Texas Capital Bancshares were worth $209,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Federated Investors Inc. PA purchased a new stake in Texas Capital Bancshares during the fourth quarter valued at about $128,000. Canada Pension Plan Investment Board boosted its stake in Texas Capital Bancshares by 88.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock valued at $142,000 after buying an additional 800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Texas Capital Bancshares by 46.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,770 shares of the bank’s stock valued at $148,000 after buying an additional 563 shares in the last quarter. Tyers Asset Management LLC purchased a new stake in Texas Capital Bancshares during the fourth quarter valued at about $180,000. Finally, Cantab Capital Partners LLP purchased a new stake in Texas Capital Bancshares during the fourth quarter valued at about $205,000. Institutional investors and hedge funds own 95.46% of the company’s stock.

Institutional Ownership by Quarter for Texas Capital Bancshares (NASDAQ:TCBI)

Shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) traded up 0.60% during trading on Friday, hitting $75.35. 493,299 shares of the stock were exchanged. The stock has a market cap of $3.73 billion, a PE ratio of 22.08 and a beta of 1.41. The firm has a 50 day moving average of $78.13 and a 200-day moving average of $78.94. Texas Capital Bancshares Inc has a 52-week low of $41.47 and a 52-week high of $93.35.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, April 19th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.88 by $0.08. Texas Capital Bancshares had a return on equity of 9.94% and a net margin of 19.98%. The company had revenue of $180.47 million during the quarter, compared to analysts’ expectations of $192.60 million. During the same period last year, the firm posted $0.49 EPS. Equities research analysts anticipate that Texas Capital Bancshares Inc will post $3.85 earnings per share for the current fiscal year.

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Several analysts have issued reports on the stock. Wedbush upgraded shares of Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $79.00 to $86.00 in a research note on Monday, May 8th. Stephens reiterated a “hold” rating on shares of Texas Capital Bancshares in a research note on Thursday, April 20th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $80.00 target price (down from $85.00) on shares of Texas Capital Bancshares in a research note on Saturday, April 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $102.00 target price on shares of Texas Capital Bancshares in a research note on Tuesday, March 21st. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Texas Capital Bancshares in a research note on Thursday, April 20th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $81.00.

In related news, insider C Keith Cargill bought 5,000 shares of the stock in a transaction dated Friday, April 21st. The shares were purchased at an average price of $73.57 per share, with a total value of $367,850.00. Following the completion of the acquisition, the insider now owns 77,286 shares of the company’s stock, valued at $5,685,931.02. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ian J. Turpin sold 2,507 shares of the business’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $73.59, for a total transaction of $184,490.13. Following the completion of the transaction, the director now directly owns 9,991 shares in the company, valued at approximately $735,237.69. The disclosure for this sale can be found here. 1.08% of the stock is currently owned by insiders.

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.

12 Month Chart for NASDAQ:TCBI

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