Massachusetts Financial Services Co. MA Reduces Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Massachusetts Financial Services Co. MA decreased its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 618,824 shares of the bank’s stock after selling 16,954 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.33% of Texas Capital Bancshares worth $37,835,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in Texas Capital Bancshares during the fourth quarter valued at approximately $35,120,000. Rafferty Asset Management LLC boosted its stake in shares of Texas Capital Bancshares by 144.5% in the 4th quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock worth $7,959,000 after buying an additional 72,782 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of Texas Capital Bancshares in the second quarter worth $675,000. Trexquant Investment LP bought a new position in Texas Capital Bancshares in the fourth quarter valued at about $3,402,000. Finally, Goldman Sachs Group Inc. boosted its position in Texas Capital Bancshares by 42.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after purchasing an additional 161,643 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a research report on Tuesday. Jefferies Financial Group dropped their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. upped their price objective on Texas Capital Bancshares from $70.00 to $73.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. Truist Financial lifted their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Finally, Wedbush upped their price target on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus target price of $67.30.

Texas Capital Bancshares Stock Performance

TCBI opened at $73.90 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.02 and a beta of 1.13. The company has a fifty day moving average of $65.19 and a 200 day moving average of $61.40. Texas Capital Bancshares, Inc. has a fifty-two week low of $52.89 and a fifty-two week high of $74.57.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The firm had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same period last year, the firm posted $1.33 earnings per share. As a group, sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 3.43 earnings per share for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the purchase, the director now directly owns 12,794 shares in the company, valued at $263,812.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robert W. Stallings bought 14,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average price of $19.93 per share, with a total value of $279,020.00. Following the transaction, the director now owns 55,294 shares in the company, valued at approximately $1,102,009.42. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Stallings purchased 4,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was bought at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the transaction, the director now owns 12,794 shares of the company’s stock, valued at $263,812.28. The disclosure for this purchase can be found here. Insiders have bought 43,500 shares of company stock valued at $876,400 in the last ninety days. Corporate insiders own 0.99% of the company’s stock.

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.