Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,785 shares of the bank’s stock after selling 13,329 shares during the period. JPMorgan Chase & Co. owned about 0.39% of Texas Capital Bancshares worth $12,919,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TCBI. Blue Trust Inc. grew its position in Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after buying an additional 169 shares during the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth $31,000. Meeder Asset Management Inc. bought a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth $71,000. CWM LLC grew its holdings in shares of Texas Capital Bancshares by 69.8% in the 3rd quarter. CWM LLC now owns 1,611 shares of the bank’s stock worth $115,000 after acquiring an additional 662 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Texas Capital Bancshares during the third quarter worth $201,000. 96.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average price of $21.28 per share, with a total value of $425,600.00. Following the purchase, the director now owns 84,587 shares in the company, 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 can be accessed through the SEC website. Insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $73.25 on Friday. Texas Capital Bancshares, Inc. has a fifty-two week low of $54.68 and a fifty-two week high of $91.80. The stock’s 50-day moving average is $82.97 and its two-hundred day moving average is $73.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $3.39 billion, a P/E ratio of 406.94, a PEG ratio of 0.80 and a beta of 1.17.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, beating the consensus estimate of $0.97 by $0.65. The business had revenue of $304.91 million during 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%. Analysts predict that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TCBI has been the subject of a number of recent analyst reports. Raymond James upgraded 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, September 17th. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. cut their price target on shares of Texas Capital Bancshares from $86.00 to $81.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. DA Davidson upped 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 report on Friday, October 25th. Finally, Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average price target of $74.75.

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.