Rhumbline Advisers Sells 2,049 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Rhumbline Advisers lessened its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,145 shares of the bank’s stock after selling 2,049 shares during the quarter. Rhumbline Advisers owned 0.37% of Texas Capital Bancshares worth $10,464,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Texas Capital Bancshares in the fourth quarter worth $35,120,000. Rafferty Asset Management LLC lifted its holdings in Texas Capital Bancshares by 144.5% during the 4th quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock valued at $7,959,000 after buying an additional 72,782 shares in the last quarter. First Hawaiian Bank purchased a new stake in Texas Capital Bancshares in the 2nd quarter valued at about $675,000. Trexquant Investment LP bought a new position in Texas Capital Bancshares in the 4th quarter worth about $3,402,000. Finally, Goldman Sachs Group Inc. grew its stake in Texas Capital Bancshares by 42.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after acquiring an additional 161,643 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average cost of $20.46 per share, with a total value of $204,600.00. Following the completion of the acquisition, the director now directly owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert W. Stallings acquired 10,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was bought at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the purchase, the director now directly owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Stallings bought 14,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average price of $19.93 per share, for a total transaction of $279,020.00. Following the transaction, the director now directly owns 55,294 shares of the company’s stock, valued at approximately $1,102,009.42. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 43,500 shares of company stock valued at $876,400. 0.99% of the stock is currently owned by corporate insiders.

Texas Capital Bancshares Stock Down 0.5 %

Shares of NASDAQ TCBI opened at $67.78 on Thursday. The stock has a market cap of $3.13 billion, a P/E ratio of 20.54, a PEG ratio of 3.05 and a beta of 1.13. The business’s fifty day simple moving average is $64.18 and its 200-day simple moving average is $60.96. Texas Capital Bancshares, Inc. has a 12-month low of $52.89 and a 12-month high of $72.07. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The firm had revenue of $472.49 million during the quarter, compared to analyst estimates of $268.02 million. During the same period last year, the business earned $1.33 EPS. As a group, equities analysts predict that Texas Capital Bancshares, Inc. will post 3.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial upped their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Wedbush increased their target price on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Jefferies Financial Group reduced their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Stephens upped their price target on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, DA Davidson lifted their price objective on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Monday. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.77.

Texas Capital Bancshares 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.