JPMorgan Chase & Co. Has $12.92 Million Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

JPMorgan Chase & Co. lowered its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 6.9% in the third quarter, Holdings Channel reports. The institutional investor owned 180,785 shares of the bank’s stock after selling 13,329 shares during the period. JPMorgan Chase & Co.’s holdings in Texas Capital Bancshares were worth $12,919,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TCBI. Blue Trust Inc. increased its stake in 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 during the period. Icon Wealth Advisors LLC bought a new stake in shares of Texas Capital Bancshares in the 3rd quarter worth approximately $31,000. Meeder Asset Management Inc. acquired a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $71,000. CWM LLC increased its position in shares of Texas Capital Bancshares by 69.8% during the third quarter. CWM LLC now owns 1,611 shares of the bank’s stock valued at $115,000 after purchasing an additional 662 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Texas Capital Bancshares in the third quarter valued at $201,000. Institutional investors own 96.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. DA Davidson upped their target price on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Truist Financial raised their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a research note on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $74.75.

Insiders Place Their Bets

In other news, Director Robert W. Stallings acquired 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, with a total value of $425,600.00. Following the acquisition, the director now owns 84,587 shares in the company, valued at $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Trading Down 4.4 %

TCBI stock opened at $73.25 on Friday. The business has a fifty day moving average price of $82.97 and a 200 day moving average price of $73.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. Texas Capital Bancshares, Inc. has a fifty-two week low of $54.68 and a fifty-two week high of $91.80. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 406.94, a P/E/G ratio of 0.80 and a beta of 1.17.

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