North Reef Capital Management LP Has $72.60 Million Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

North Reef Capital Management LP reduced its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 44.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 928,439 shares of the bank’s stock after selling 746,561 shares during the period. Texas Capital Bancshares comprises approximately 3.3% of North Reef Capital Management LP’s portfolio, making the stock its 13th biggest position. North Reef Capital Management LP owned about 2.01% of Texas Capital Bancshares worth $72,604,000 as of its most recent SEC filing.

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

Texas Capital Bancshares Trading Up 1.5 %

Texas Capital Bancshares stock opened at $68.21 on Friday. The stock has a market cap of $3.15 billion, a P/E ratio of 53.29, a PEG ratio of 0.75 and a beta of 0.74. Texas Capital Bancshares, Inc. has a fifty-two week low of $56.24 and a fifty-two week high of $91.80. The firm’s fifty day moving average price is $72.04 and its 200-day moving average price is $77.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last released 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). Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. The business had revenue of $280.48 million during the quarter, compared to analysts’ expectations of $284.40 million. Equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert W. Stallings acquired 500 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The stock was bought at an average cost of $68.20 per share, with a total value of $34,100.00. Following the acquisition, the director now owns 289,961 shares of the company’s stock, valued at approximately $19,775,340.20. The trade was a 0.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 28,732 shares of company stock valued at $820,610 in the last quarter. Corporate insiders own 1.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TCBI. JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an “underweight” rating for the company 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 report on Monday. Keefe, Bruyette & Woods cut their price objective on Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating on the stock in a research report on Monday. Barclays decreased their target price on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.64.

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.