Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by Banc Funds Co. LLC

Banc Funds Co. LLC decreased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 2.0% during the 3rd quarter, Holdings Channel reports. The firm owned 231,205 shares of the bank’s stock after selling 4,800 shares during the quarter. Texas Capital Bancshares comprises about 1.8% of Banc Funds Co. LLC’s holdings, making the stock its 16th biggest position. Banc Funds Co. LLC’s holdings in Texas Capital Bancshares were worth $16,522,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Texas Capital Bancshares in the 2nd quarter worth about $26,000. Blue Trust Inc. lifted its holdings in shares of Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after purchasing an additional 169 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Texas Capital Bancshares in the third quarter valued at about $31,000. CWM LLC grew its position in shares of Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after purchasing an additional 275 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $71,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert W. Stallings purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the acquisition, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Stock Down 0.9 %

Shares of TCBI opened at $88.45 on Monday. Texas Capital Bancshares, Inc. has a fifty-two week low of $53.69 and a fifty-two week high of $91.80. The company’s fifty day moving average is $79.30 and its two-hundred day moving average is $68.58. The firm has a market cap of $4.09 billion, a PE ratio of 491.39, a price-to-earnings-growth ratio of 0.84 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.65. The firm had revenue of $304.91 million during the quarter, compared to the consensus estimate of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. Analysts forecast that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Analysts Set New Price Targets

TCBI has been the topic of a number of recent research reports. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial increased their price objective on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Royal Bank of Canada lifted their price objective on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price on the stock in a report on Tuesday, September 17th. Finally, Hovde Group lifted their price target on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $74.00.

About Texas Capital Bancshares

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.