Teachers Retirement System of The State of Kentucky Lowers Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Teachers Retirement System of The State of Kentucky cut its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,693 shares of the bank’s stock after selling 1,913 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Texas Capital Bancshares were worth $4,277,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TCBI. Picton Mahoney Asset Management bought a new stake in Texas Capital Bancshares during the fourth quarter valued at about $30,000. Assetmark Inc. purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $32,000. Venturi Wealth Management LLC bought a new stake in shares of Texas Capital Bancshares in the 4th quarter valued at about $37,000. R Squared Ltd purchased a new position in shares of Texas Capital Bancshares in the 4th quarter worth approximately $41,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $115,000. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Stock Up 2.6 %

TCBI stock opened at $65.89 on Wednesday. The company has a market capitalization of $3.04 billion, a P/E ratio of 51.48, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74. Texas Capital Bancshares, Inc. has a 12 month low of $56.24 and a 12 month high of $91.80. The firm’s fifty day simple moving average is $72.57 and its 200-day simple moving average is $77.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.07). The company had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. As a group, equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert W. Stallings purchased 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $20.43 per share, for a total transaction of $143,010.00. Following the completion of the transaction, the director now owns 49,500 shares in the company, valued at $1,011,285. This represents a 16.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have purchased a total of 29,402 shares of company stock valued at $653,787 over the last ninety days. Company insiders own 1.72% of the company’s stock.

Analyst Ratings Changes

TCBI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating for the company in a research note on Monday. Stephens lowered their price objective on Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday. Raymond James dropped their target price on Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday. Piper Sandler decreased their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Barclays dropped their price target on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $76.64.

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.