ProShare Advisors LLC Sells 2,269 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

ProShare Advisors LLC lowered its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 21.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,535 shares of the bank’s stock after selling 2,269 shares during the period. ProShare Advisors LLC’s holdings in Texas Capital Bancshares were worth $522,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Rafferty Asset Management LLC increased its holdings in Texas Capital Bancshares by 144.5% in 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 during the period. First Hawaiian Bank acquired a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $675,000. Goldman Sachs Group Inc. increased its stake in Texas Capital Bancshares by 42.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after acquiring an additional 161,643 shares during the last quarter. Hodges Capital Management Inc. raised its position in Texas Capital Bancshares by 24.2% during the first quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock valued at $9,039,000 after purchasing an additional 28,650 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Texas Capital Bancshares by 73.0% during the first quarter. BNP Paribas Financial Markets now owns 25,489 shares of the bank’s stock worth $1,569,000 after purchasing an additional 10,752 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $71.46 on Tuesday. The business has a 50-day moving average of $65.90 and a 200-day moving average of $62.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. Texas Capital Bancshares, Inc. has a 1 year low of $52.89 and a 1 year high of $74.57.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The firm had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. During the same quarter in the previous year, the business posted $1.33 EPS. As a group, equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 3.47 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on TCBI. Citigroup reiterated a “sell” rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Stephens lifted their target price on Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their target price for the stock from $51.00 to $77.00 in a report on Monday, September 9th. Truist Financial lifted their price target on shares of Texas Capital Bancshares from $70.00 to $80.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Texas Capital Bancshares from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $69.20.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 4,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was purchased at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the acquisition, the director now owns 12,794 shares in the company, valued at approximately $263,812.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Robert W. Stallings bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average cost of $20.46 per share, with a total value of $204,600.00. Following the completion of the purchase, the director now directly owns 31,294 shares in the company, valued at $640,275.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Stallings purchased 4,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was bought at an average cost of $20.62 per share, with a total value of $82,480.00. Following the completion of the purchase, the director now owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The disclosure for this purchase can be found here. Insiders have bought a total of 43,500 shares of company stock worth $876,400 over the last quarter. Company 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.