Tectonic Advisors LLC Lowers Holdings in Texas Capital Bancshares, Inc. $TCBI

Tectonic Advisors LLC lowered its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 23.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,061 shares of the bank’s stock after selling 7,607 shares during the quarter. Tectonic Advisors LLC’s holdings in Texas Capital Bancshares were worth $2,118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TCBI. State of Wyoming purchased a new position in shares of Texas Capital Bancshares during the first quarter valued at $70,000. Focus Partners Advisor Solutions LLC bought a new position in Texas Capital Bancshares during the 1st quarter worth about $207,000. AQR Capital Management LLC grew its holdings in Texas Capital Bancshares by 84.8% during the 1st quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank’s stock worth $105,395,000 after acquiring an additional 657,630 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Texas Capital Bancshares by 8.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 359,972 shares of the bank’s stock valued at $26,890,000 after purchasing an additional 29,074 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Texas Capital Bancshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank’s stock valued at $2,062,000 after purchasing an additional 1,206 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Price Performance

NASDAQ TCBI opened at $90.54 on Friday. The firm’s fifty day simple moving average is $89.57 and its two-hundred day simple moving average is $85.98. The firm has a market capitalization of $4.13 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.58 and a beta of 0.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month high of $98.07.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.41. Texas Capital Bancshares had a return on equity of 9.51% and a net margin of 15.14%.The firm had revenue of $340.35 million during the quarter, compared to analysts’ expectations of $327.13 million. During the same quarter last year, the firm earned ($1.41) EPS. The business’s quarterly revenue was up 171.6% on a year-over-year basis. Analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 5,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were acquired at an average price of $20.68 per share, for a total transaction of $103,400.00. Following the completion of the purchase, the director owned 275,913 shares of the company’s stock, valued at approximately $5,705,880.84. The trade was a 1.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Texas Capital Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 31st. Cowen started coverage on Texas Capital Bancshares in a report on Wednesday, September 24th. They set a “hold” rating for the company. Keefe, Bruyette & Woods increased their target price on Texas Capital Bancshares from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. DA Davidson reissued a “neutral” rating and issued a $91.00 price target on shares of Texas Capital Bancshares in a research report on Thursday, November 20th. Finally, JPMorgan Chase & Co. upped their price objective on Texas Capital Bancshares from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of “Hold” and an average price target of $89.40.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.