King Luther Capital Management Corp Trims Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

King Luther Capital Management Corp lessened its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 61,177 shares of the bank’s stock after selling 464 shares during the period. King Luther Capital Management Corp’s holdings in Texas Capital Bancshares were worth $3,740,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Texas Capital Bancshares in the second quarter worth about $26,000. CWM LLC lifted its stake in shares of Texas Capital Bancshares by 426.6% during the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after acquiring an additional 546 shares during the last quarter. Mather Group LLC. purchased a new position in Texas Capital Bancshares during the 1st quarter valued at $50,000. Fidelis Capital Partners LLC bought a new position in Texas Capital Bancshares in the 1st quarter valued at $54,000. Finally, TFO Wealth Partners LLC increased its stake in Texas Capital Bancshares by 123,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock worth $160,000 after purchasing an additional 2,475 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Stock Performance

TCBI stock opened at $72.00 on Friday. Texas Capital Bancshares, Inc. has a one year low of $52.89 and a one year high of $74.57. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.02 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a 50-day simple moving average of $65.54 and a two-hundred day simple moving average of $61.58.

Texas Capital Bancshares (NASDAQ:TCBI) last announced 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). The firm had revenue of $472.49 million during the quarter, compared to analyst estimates of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same quarter last year, the business earned $1.33 earnings per share. On average, equities analysts forecast that Texas Capital Bancshares, Inc. will post 3.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TCBI has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $74.00 target price on shares of Texas Capital Bancshares in a research note on Monday, September 9th. DA Davidson boosted their price objective on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. raised their target price on shares of Texas Capital Bancshares from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Monday, September 9th. Jefferies Financial Group lowered their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, Stephens increased their price objective on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.97.

Insider Buying and Selling

In other news, Director Robert W. Stallings bought 15,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $400,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert W. Stallings purchased 4,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, July 25th. The stock was bought at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the transaction, the director now owns 12,794 shares in the company, valued at $263,812.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Stallings bought 15,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $20.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $400,000. The disclosure for this purchase can be found here. Insiders purchased 43,500 shares of company stock worth $876,400 in the last three months. Corporate insiders own 0.99% of the company’s stock.

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.