Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Stock Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 31.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,238 shares of the bank’s stock after selling 49,195 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Texas Capital Bancshares worth $7,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in Texas Capital Bancshares by 40.4% in the first quarter. SG Americas Securities LLC now owns 3,932 shares of the bank’s stock worth $242,000 after purchasing an additional 1,131 shares during the period. ProShare Advisors LLC grew its position in shares of Texas Capital Bancshares by 3.3% during the 1st quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock valued at $665,000 after buying an additional 344 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Texas Capital Bancshares by 11.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 15,252 shares of the bank’s stock worth $939,000 after acquiring an additional 1,570 shares during the period. Clearbridge Investments LLC lifted its holdings in Texas Capital Bancshares by 2.5% in the first quarter. Clearbridge Investments LLC now owns 234,227 shares of the bank’s stock worth $14,417,000 after acquiring an additional 5,671 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Texas Capital Bancshares by 7.0% in the first quarter. Bessemer Group Inc. now owns 170,832 shares of the bank’s stock valued at $10,514,000 after acquiring an additional 11,211 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TCBI shares. Barclays raised their price target on Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $77.00 to $82.00 in a report on Friday, October 18th. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Tuesday, September 17th. Hovde Group boosted their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, DA Davidson raised their price target 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. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.00.

Insider Buying and Selling

In related news, Director Robert W. Stallings bought 20,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were bought at an average cost of $21.28 per share, with a total value of $425,600.00. Following the completion of the transaction, the director now directly owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.53% of the stock is currently owned by insiders.

Texas Capital Bancshares Trading Down 0.1 %

Shares of TCBI stock opened at $85.90 on Wednesday. The stock has a 50-day simple moving average of $76.59 and a 200 day simple moving average of $67.14. The stock has a market capitalization of $3.97 billion, a P/E ratio of 477.22, a P/E/G ratio of 0.83 and a beta of 1.12. Texas Capital Bancshares, Inc. has a fifty-two week low of $53.16 and a fifty-two week high of $91.29. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.65. The company had revenue of $304.91 million during the quarter, compared to analyst estimates of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. On average, sell-side analysts expect that Texas Capital Bancshares, Inc. will post 4.15 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.