Quest Partners LLC Has $156,000 Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Quest Partners LLC lowered its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 78.8% during the third quarter, HoldingsChannel.com reports. The firm owned 2,178 shares of the bank’s stock after selling 8,102 shares during the quarter. Quest Partners LLC’s holdings in Texas Capital Bancshares were worth $156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TCBI. AQR Capital Management LLC lifted its position in Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after acquiring an additional 506,094 shares during the last quarter. American Century Companies Inc. boosted its stake in Texas Capital Bancshares by 43.8% during the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after buying an additional 171,263 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Texas Capital Bancshares by 11.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank’s stock worth $23,323,000 after acquiring an additional 38,393 shares during the period. Millennium Management LLC lifted its stake in Texas Capital Bancshares by 146.7% during the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after purchasing an additional 221,454 shares during the period. Finally, Mesirow Institutional Investment Management Inc. acquired a new position in shares of Texas Capital Bancshares in the 2nd quarter worth approximately $11,489,000. Institutional investors own 96.88% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert W. Stallings bought 20,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, October 22nd. The shares were purchased at an average price of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the acquisition, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TCBI shares. StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $77.00 to $82.00 in a report on Friday, October 18th. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and boosted their price target for the company from $51.00 to $77.00 in a research report on Monday, September 9th. Barclays upped their price objective on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Finally, Hovde Group lifted their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $74.00.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $89.22 on Friday. The business’s 50-day simple moving average is $78.66 and its 200 day simple moving average is $68.21. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 495.67, a P/E/G ratio of 0.85 and a beta of 1.12. Texas Capital Bancshares, Inc. has a 12-month low of $53.69 and a 12-month high of $91.80.

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

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.