Thrivent Financial for Lutherans Decreases Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Thrivent Financial for Lutherans trimmed its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 32.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,586 shares of the bank’s stock after selling 64,132 shares during the quarter. Thrivent Financial for Lutherans owned 0.28% of Texas Capital Bancshares worth $10,212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TCBI. Wellington Management Group LLP increased its position in Texas Capital Bancshares by 15.4% in the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock worth $80,265,000 after buying an additional 150,301 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Texas Capital Bancshares in the fourth quarter worth $8,080,000. Fisher Asset Management LLC increased its position in Texas Capital Bancshares by 26.9% in the fourth quarter. Fisher Asset Management LLC now owns 339,716 shares of the bank’s stock worth $26,566,000 after buying an additional 72,109 shares during the last quarter. Jane Street Group LLC increased its position in Texas Capital Bancshares by 107.2% in the third quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock worth $9,481,000 after buying an additional 68,632 shares during the last quarter. Finally, Hodges Capital Management Inc. increased its position in Texas Capital Bancshares by 32.5% in the fourth quarter. Hodges Capital Management Inc. now owns 252,973 shares of the bank’s stock worth $19,782,000 after buying an additional 62,030 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TCBI has been the subject of a number of analyst reports. DA Davidson cut their price target on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Hovde Group cut their price target on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a report on Friday, March 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 price target (down from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday, January 29th. Stephens cut their price target on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $79.47.

Texas Capital Bancshares Trading Up 0.4 %

NASDAQ TCBI opened at $75.88 on Friday. The stock’s 50-day simple moving average is $78.25 and its two-hundred day simple moving average is $78.36. Texas Capital Bancshares, Inc. has a twelve month low of $54.68 and a twelve month high of $91.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 59.28, a PEG ratio of 0.75 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. Research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 2,006 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were purchased at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the completion of the acquisition, the director now owns 182,899 shares in the company, valued at approximately $3,839,050.01. This represents a 1.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have purchased 29,402 shares of company stock worth $653,787. Company insiders own 1.72% of the company’s stock.

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.