Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 4.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 52,509 shares of the bank’s stock after selling 2,297 shares during the period. The Manufacturers Life Insurance Company’s holdings in Texas Capital Bancshares were worth $3,752,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Innealta Capital LLC purchased a new position in shares of Texas Capital Bancshares during the second quarter worth about $26,000. Blue Trust Inc. boosted its position in shares of Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after purchasing an additional 169 shares during the period. Icon Wealth Advisors LLC acquired a new position in Texas Capital Bancshares during the third quarter worth approximately $31,000. CWM LLC lifted its stake in Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after buying an additional 275 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Texas Capital Bancshares in the third quarter valued at approximately $71,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Stock Up 0.7 %

TCBI stock opened at $87.71 on Friday. Texas Capital Bancshares, Inc. has a 52 week low of $54.68 and a 52 week high of $91.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The company has a market cap of $4.05 billion, a P/E ratio of 487.28, a P/E/G ratio of 0.85 and a beta of 1.14. The company’s 50-day moving average price is $81.03 and its 200 day moving average price is $69.51.

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

Analysts Set New Price Targets

Several analysts recently commented on TCBI shares. Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the company from $77.00 to $82.00 in a research report on Friday, October 18th. Royal Bank of Canada upped their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Hovde Group raised their price target on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Truist Financial boosted their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a report on Monday, October 21st. Four equities research 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’s stock. According to data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus target price of $74.69.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the transaction, the director now directly owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.99% of the stock is owned by corporate insiders.

About Texas Capital Bancshares

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.