Teachers Retirement System of The State of Kentucky Sells 8,902 Shares of Texas Capital Bancshares, Inc. $TCBI

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 17.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 42,551 shares of the bank’s stock after selling 8,902 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.09% of Texas Capital Bancshares worth $3,597,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Optimize Financial Inc purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter worth about $441,000. Federated Hermes Inc. increased its holdings in Texas Capital Bancshares by 153.7% during the third quarter. Federated Hermes Inc. now owns 123,900 shares of the bank’s stock worth $10,473,000 after buying an additional 75,061 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Texas Capital Bancshares by 15.3% in the third quarter. Thrivent Financial for Lutherans now owns 44,242 shares of the bank’s stock worth $3,740,000 after acquiring an additional 5,867 shares during the period. CWM LLC boosted its stake in Texas Capital Bancshares by 145.1% in the third quarter. CWM LLC now owns 21,909 shares of the bank’s stock valued at $1,852,000 after acquiring an additional 12,971 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Texas Capital Bancshares during the 3rd quarter valued at approximately $884,000. Institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $96.08 on Thursday. Texas Capital Bancshares, Inc. has a twelve month low of $59.37 and a twelve month high of $108.92. The stock has a market cap of $4.24 billion, a P/E ratio of 14.13, a PEG ratio of 0.46 and a beta of 0.66. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $98.81 and its two-hundred day moving average price is $91.15.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.30. The firm had revenue of $327.48 million for the quarter, compared to analyst estimates of $324.09 million. Texas Capital Bancshares had a net margin of 16.52% and a return on equity of 10.05%. During the same quarter in the prior year, the firm earned $1.43 EPS. As a group, equities analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert W. Stallings bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average price of $22.14 per share, for a total transaction of $442,800.00. Following the transaction, the director directly owned 335,913 shares of the company’s stock, valued at $7,437,113.82. This represents a 6.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura L. Whitley purchased 500 shares of Texas Capital Bancshares stock in a transaction on Monday, January 26th. The shares were acquired at an average price of $97.51 per share, for a total transaction of $48,755.00. Following the completion of the transaction, the director directly owned 7,961 shares of the company’s stock, valued at approximately $776,277.11. The trade was a 6.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 23,000 shares of company stock valued at $582,155. Corporate insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TCBI shares. Piper Sandler lifted their price target on shares of Texas Capital Bancshares from $86.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Raymond James Financial boosted their target price on Texas Capital Bancshares from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Stephens increased their price target on Texas Capital Bancshares from $111.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Hovde Group boosted their price objective on Texas Capital Bancshares from $93.00 to $102.00 and gave the company a “market perform” rating in a research note on Tuesday, January 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Texas Capital Bancshares from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.17.

About Texas Capital Bancshares

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.