Thrivent Financial for Lutherans Lowers Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Thrivent Financial for Lutherans reduced its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 194,718 shares of the bank’s stock after selling 1,747 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Texas Capital Bancshares were worth $13,914,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TCBI. Blue Trust Inc. increased its position in shares of Texas Capital Bancshares by 89.9% during the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after acquiring an additional 169 shares in the last quarter. Innealta Capital LLC purchased a new stake in Texas Capital Bancshares during the 2nd quarter valued at $26,000. CWM LLC increased its holdings in shares of Texas Capital Bancshares by 40.8% in the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after purchasing an additional 275 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Texas Capital Bancshares in the 3rd quarter worth $201,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in shares of Texas Capital Bancshares in the third quarter worth $214,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a report on Monday, September 9th. Hovde Group lifted their price target on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and raised their target price for the stock from $51.00 to $77.00 in a report on Monday, September 9th. Finally, Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.00.

Texas Capital Bancshares Stock Down 2.3 %

NASDAQ TCBI opened at $83.90 on Thursday. The stock’s 50-day moving average price is $76.91 and its 200-day moving average price is $67.26. The company has a market capitalization of $3.88 billion, a P/E ratio of 466.11, a price-to-earnings-growth ratio of 0.83 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a 52 week low of $53.16 and a 52 week high of $91.29.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.65. The company had revenue of $304.91 million for the quarter, compared to analysts’ expectations of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. On average, equities research analysts predict that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were bought at an average cost of $21.28 per share, with a total value of $425,600.00. Following the acquisition, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.53% of the stock is owned by corporate insiders.

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.