Principal Financial Group Inc. Sells 1,107 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Principal Financial Group Inc. trimmed its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,131 shares of the bank’s stock after selling 1,107 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Texas Capital Bancshares worth $8,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Blue Trust Inc. raised its stake in shares of Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after purchasing an additional 169 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Texas Capital Bancshares by 3.5% in the third quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank’s stock valued at $383,000 after purchasing an additional 180 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Texas Capital Bancshares by 5.3% in the third quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock valued at $309,000 after purchasing an additional 217 shares in the last quarter. Savant Capital LLC raised its stake in shares of Texas Capital Bancshares by 5.7% in the fourth quarter. Savant Capital LLC now owns 5,604 shares of the bank’s stock valued at $438,000 after purchasing an additional 303 shares in the last quarter. Finally, M&T Bank Corp raised its stake in shares of Texas Capital Bancshares by 6.8% in the third quarter. M&T Bank Corp now owns 4,946 shares of the bank’s stock valued at $353,000 after purchasing an additional 316 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TCBI has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Stephens dropped their price objective on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $95.00 target price (down from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Finally, DA Davidson decreased their price target on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus price target of $79.13.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 5,670 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were acquired at an average price of $27.60 per share, with a total value of $156,492.00. Following the transaction, the director now owns 180,893 shares in the company, valued at $4,992,646.80. This represents a 3.24 % 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 this hyperlink. In the last quarter, insiders have bought 22,402 shares of company stock valued at $510,777. 0.99% of the stock is owned by insiders.

Texas Capital Bancshares Trading Up 0.7 %

NASDAQ:TCBI opened at $79.16 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 company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $3.64 billion, a PE ratio of 61.84, a price-to-earnings-growth ratio of 0.75 and a beta of 1.16. The business’s 50-day simple moving average is $79.13 and its 200-day simple moving average is $77.32.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. Sell-side analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

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.