SG Americas Securities LLC Lowers Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

SG Americas Securities LLC cut its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 95.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,893 shares of the bank’s stock after selling 74,971 shares during the period. SG Americas Securities LLC’s holdings in Texas Capital Bancshares were worth $278,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC raised its position in Texas Capital Bancshares by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank’s stock worth $828,000 after acquiring an additional 257 shares during the period. CWM LLC raised its position in Texas Capital Bancshares by 40.8% during the second quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after acquiring an additional 275 shares during the period. ProShare Advisors LLC raised its position in Texas Capital Bancshares by 3.3% during the first quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock worth $665,000 after acquiring an additional 344 shares during the period. Innealta Capital LLC acquired a new position in Texas Capital Bancshares during the second quarter worth $26,000. Finally, AlphaMark Advisors LLC raised its position in Texas Capital Bancshares by 11.6% during the second quarter. AlphaMark Advisors LLC now owns 5,257 shares of the bank’s stock worth $321,000 after acquiring an additional 546 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Trading Down 1.9 %

Shares of TCBI stock opened at $79.02 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 0.99. The firm has a market cap of $3.65 billion, a PE ratio of 439.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. The company has a 50-day moving average of $69.13 and a two-hundred day moving average of $63.53. Texas Capital Bancshares, Inc. has a 1-year low of $52.89 and a 1-year high of $82.25.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. During the same period last year, the business earned $1.33 EPS. On average, analysts predict that Texas Capital Bancshares, Inc. will post 3.5 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert W. Stallings bought 14,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was bought at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the purchase, the director now directly owns 55,294 shares in the company, valued at $1,102,009.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,000 shares of the stock in a transaction dated Monday, July 29th. The stock was acquired at an average price of $20.46 per share, with a total value of $204,600.00. Following the completion of the purchase, the director now owns 31,294 shares in the company, valued at $640,275.24. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Stallings acquired 14,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average cost of $19.93 per share, with a total value of $279,020.00. Following the purchase, the director now owns 55,294 shares of the company’s stock, valued at approximately $1,102,009.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 43,500 shares of company stock valued at $876,400 over the last 90 days. 0.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TCBI has been the subject of a number of research analyst reports. Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday. Piper Sandler cut shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $77.00 to $82.00 in a research report on Friday. Stephens increased their target price on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their target price on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Truist Financial reiterated an “underperform” rating on shares of Texas Capital Bancshares in a research report on Friday. 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 stock. According to data from MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and a consensus price target of $73.19.

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.