King Luther Capital Management Corp Sells 464 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

King Luther Capital Management Corp lowered its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 61,177 shares of the bank’s stock after selling 464 shares during the quarter. King Luther Capital Management Corp owned approximately 0.13% of Texas Capital Bancshares worth $3,740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in Texas Capital Bancshares in the 4th quarter worth approximately $35,120,000. Rafferty Asset Management LLC lifted 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 valued at $7,959,000 after purchasing an additional 72,782 shares during the period. First Hawaiian Bank purchased a new position in shares of Texas Capital Bancshares in the 2nd quarter valued at approximately $675,000. Goldman Sachs Group Inc. lifted its stake in shares of Texas Capital Bancshares by 42.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after purchasing an additional 161,643 shares during the period. Finally, Hodges Capital Management Inc. lifted its stake in shares of Texas Capital Bancshares by 24.2% in the 1st quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock valued at $9,039,000 after purchasing an additional 28,650 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 15,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $400,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, July 29th. The shares were purchased at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the acquisition, the director now directly owns 31,294 shares in the company, valued at approximately $640,275.24. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert W. Stallings purchased 15,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $400,000. The disclosure for this purchase can be found here. Insiders bought 43,500 shares of company stock worth $876,400 in the last quarter. 0.99% of the stock is owned by corporate insiders.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $72.00 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 company has a market cap of $3.36 billion, a P/E ratio of 21.82, a P/E/G ratio of 1.02 and a beta of 1.13. The firm’s fifty day moving average is $65.54 and its two-hundred day moving average is $61.58. Texas Capital Bancshares, Inc. has a 52-week low of $52.89 and a 52-week high of $74.57.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The firm had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same quarter in the previous year, the business earned $1.33 EPS. As a group, analysts anticipate that Texas Capital Bancshares, Inc. will post 3.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TCBI. Wedbush raised their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and raised their target price for the company from $51.00 to $77.00 in a research note on Monday, September 9th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 target price on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Truist Financial raised their target price on Texas Capital Bancshares from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Friday. Finally, Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Tuesday, September 17th. Five research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $67.97.

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.