William Blair Investment Management LLC Sells 154,907 Shares of Texas Capital Bancshares, Inc. $TCBI

William Blair Investment Management LLC lessened its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 27.9% during the third quarter, Holdings Channel reports. The firm owned 399,461 shares of the bank’s stock after selling 154,907 shares during the period. William Blair Investment Management LLC’s holdings in Texas Capital Bancshares were worth $33,766,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TCBI. Norges Bank purchased a new stake in shares of Texas Capital Bancshares in the second quarter valued at about $45,364,000. Azora Capital LP boosted its holdings in Texas Capital Bancshares by 141.3% during the second quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock worth $73,843,000 after purchasing an additional 544,590 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in Texas Capital Bancshares by 148.8% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 379,331 shares of the bank’s stock worth $32,065,000 after purchasing an additional 226,872 shares in the last quarter. SG Americas Securities LLC increased its stake in Texas Capital Bancshares by 2,461.3% in the 3rd quarter. SG Americas Securities LLC now owns 132,934 shares of the bank’s stock valued at $11,237,000 after buying an additional 127,744 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Texas Capital Bancshares by 355.1% in the 3rd quarter. Intech Investment Management LLC now owns 137,587 shares of the bank’s stock valued at $11,630,000 after buying an additional 107,356 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analyst Ratings Changes

TCBI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Texas Capital Bancshares from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Tuesday, December 16th. Royal Bank Of Canada boosted their price target on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Friday, January 23rd. TD Cowen raised their price objective on shares of Texas Capital Bancshares from $103.00 to $110.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Stephens lifted their price objective on shares of Texas Capital Bancshares from $111.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Finally, Zacks Research raised shares of Texas Capital Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $101.17.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $95.30 on Monday. The business’s fifty day moving average is $98.66 and its 200 day moving average is $90.95. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 0.46 and a beta of 0.66. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares, Inc. has a 52-week low of $59.37 and a 52-week high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.30. The business had revenue of $327.48 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $1.43 EPS. Research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 20,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was purchased at an average cost of $22.14 per share, for a total transaction of $442,800.00. Following the acquisition, the director owned 335,913 shares of the company’s stock, valued at $7,437,113.82. This trade represents a 6.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Laura L. Whitley bought 500 shares of the business’s stock in a transaction on Monday, January 26th. The stock was purchased at an average cost of $97.51 per share, with a total value of $48,755.00. Following the purchase, the director owned 7,961 shares of the company’s stock, valued at $776,277.11. This represents a 6.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 23,000 shares of company stock valued at $582,155 over the last quarter. 1.72% of the stock is owned by company insiders.

Texas Capital Bancshares 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.