Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by American International Group Inc.

American International Group Inc. lessened its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,293 shares of the bank’s stock after selling 2,852 shares during the quarter. American International Group Inc. owned about 0.19% of Texas Capital Bancshares worth $5,706,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Texas Capital Bancshares by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,820,025 shares of the bank’s stock worth $283,899,000 after acquiring an additional 25,113 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Texas Capital Bancshares by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock valued at $211,025,000 after purchasing an additional 80,311 shares during the period. North Reef Capital Management LP increased its stake in Texas Capital Bancshares by 99.2% in the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock valued at $85,405,000 after purchasing an additional 722,250 shares during the period. Heartland Advisors Inc. boosted its stake in shares of Texas Capital Bancshares by 7.8% during the fourth quarter. Heartland Advisors Inc. now owns 819,896 shares of the bank’s stock worth $54,442,000 after buying an additional 59,132 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Texas Capital Bancshares by 8.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 720,263 shares of the bank’s stock worth $46,551,000 after buying an additional 56,495 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert W. Stallings purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average price of $19.70 per share, for a total transaction of $59,100.00. Following the acquisition, the director now directly owns 153,706 shares in the company, valued at $3,028,008.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert W. Stallings bought 6,000 shares of the stock in a transaction dated Monday, May 20th. The stock was acquired at an average price of $19.52 per share, for a total transaction of $117,120.00. Following the completion of the purchase, the director now owns 163,706 shares in the company, valued at $3,195,541.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Stallings acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average price of $19.70 per share, for a total transaction of $59,100.00. Following the purchase, the director now directly owns 153,706 shares of the company’s stock, valued at $3,028,008.20. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 15,004 shares of company stock valued at $292,878. Insiders own 0.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TCBI. Barclays initiated coverage on Texas Capital Bancshares in a research report on Friday, March 8th. They set an “underweight” rating and a $47.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Hovde Group cut their price objective on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a research report on Friday, April 19th. Truist Financial lowered their target price on shares of Texas Capital Bancshares from $66.00 to $61.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Finally, Royal Bank of Canada reduced their price objective on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 9th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.58.

Texas Capital Bancshares Trading Up 0.1 %

Shares of TCBI stock opened at $58.39 on Friday. Texas Capital Bancshares, Inc. has a twelve month low of $48.41 and a twelve month high of $66.18. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.42 and a beta of 1.15. The firm has a 50-day moving average price of $59.12 and a 200 day moving average price of $60.06. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. The company had revenue of $256.33 million during the quarter, compared to the consensus estimate of $253.27 million. Research analysts forecast that Texas Capital Bancshares, Inc. will post 3.53 earnings per share 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.