Bank of New York Mellon Corp Sells 17,456 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Bank of New York Mellon Corp cut its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 772,444 shares of the bank’s stock after selling 17,456 shares during the period. Bank of New York Mellon Corp owned approximately 1.67% of Texas Capital Bancshares worth $60,405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Texas Capital Bancshares by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock worth $81,856,000 after acquiring an additional 13,022 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Texas Capital Bancshares by 15.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock worth $80,265,000 after acquiring an additional 150,301 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Texas Capital Bancshares by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock worth $40,792,000 after acquiring an additional 10,171 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in shares of Texas Capital Bancshares by 12.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 467,001 shares of the bank’s stock worth $33,372,000 after acquiring an additional 52,095 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Texas Capital Bancshares by 0.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 308,222 shares of the bank’s stock worth $22,026,000 after acquiring an additional 1,687 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 2,006 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the completion of the purchase, the director now owns 182,899 shares in the company, valued at approximately $3,839,050.01. This trade represents a 1.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired 22,402 shares of company stock worth $510,777 in the last 90 days. Insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI opened at $74.72 on Wednesday. Texas Capital Bancshares, Inc. has a twelve month low of $54.68 and a twelve month high of $91.80. The stock’s 50 day moving average price is $79.07 and its 200-day moving average price is $77.66. The company has a market capitalization of $3.44 billion, a PE ratio of 58.38, a PEG ratio of 0.75 and a beta of 1.16. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. On average, equities analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Wall Street Analyst Weigh In

TCBI has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research report on Friday, January 24th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Barclays boosted their target price on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 target price (down from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Finally, DA Davidson decreased their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $79.13.

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.