Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) by 24.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 320,012 shares of the bank’s stock after selling 105,303 shares during the period. Granite Investment Partners LLC’s holdings in Texas Capital Bancshares were worth $19,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its stake in shares of Texas Capital Bancshares by 1.5% during the 4th quarter. Amalgamated Bank now owns 33,588 shares of the bank’s stock worth $2,026,000 after acquiring an additional 490 shares in the last quarter. Sei Investments Co. lifted its stake in Texas Capital Bancshares by 8.0% in the 4th quarter. Sei Investments Co. now owns 173,548 shares of the bank’s stock worth $10,466,000 after purchasing an additional 12,911 shares in the last quarter. New York Life Investment Management LLC lifted its stake in Texas Capital Bancshares by 12.0% in the 4th quarter. New York Life Investment Management LLC now owns 9,895 shares of the bank’s stock worth $597,000 after purchasing an additional 1,059 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Texas Capital Bancshares by 43.6% in the 4th quarter. Victory Capital Management Inc. now owns 18,159 shares of the bank’s stock worth $1,095,000 after purchasing an additional 5,510 shares in the last quarter. Finally, Brandywine Global Investment Management LLC lifted its stake in Texas Capital Bancshares by 19.3% in the 4th quarter. Brandywine Global Investment Management LLC now owns 159,561 shares of the bank’s stock worth $9,623,000 after purchasing an additional 25,835 shares in the last quarter. 96.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Texas Capital Bancshares

In related news, Director Thomas E. Long acquired 4,000 shares of Texas Capital Bancshares stock in a transaction on Friday, April 28th. The shares were purchased at an average cost of $50.17 per share, for a total transaction of $200,680.00. Following the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $200,680. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Texas Capital Bancshares news, insider John W. Cummings purchased 1,110 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was acquired at an average cost of $44.57 per share, with a total value of $49,472.70. Following the acquisition, the insider now owns 2,323 shares of the company’s stock, valued at approximately $103,536.11. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas E. Long purchased 4,000 shares of the firm’s stock in a transaction dated Friday, April 28th. The stock was acquired at an average cost of $50.17 per share, with a total value of $200,680.00. Following the completion of the acquisition, the director now directly owns 4,000 shares in the company, valued at approximately $200,680. The disclosure for this purchase can be found here. In the last three months, insiders bought 43,610 shares of company stock valued at $1,961,943. Corporate insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Trading Down 1.0 %

Shares of TCBI traded down $0.47 on Friday, hitting $48.90. 95,553 shares of the stock traded hands, compared to its average volume of 576,413. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.34 billion, a P/E ratio of 7.89, a P/E/G ratio of 1.60 and a beta of 1.27. The stock’s 50 day moving average is $49.32 and its two-hundred day moving average is $57.11. Texas Capital Bancshares, Inc. has a 1 year low of $42.79 and a 1 year high of $69.26.

Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last issued its quarterly earnings results on Thursday, April 20th. The bank reported $0.70 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.20). Texas Capital Bancshares had a return on equity of 6.00% and a net margin of 19.64%. The company had revenue of $422.57 million for the quarter, compared to analyst estimates of $267.71 million. During the same period last year, the company posted $0.69 EPS. As a group, sell-side analysts predict that Texas Capital Bancshares, Inc. will post 3.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TCBI shares. Truist Financial raised their target price on shares of Texas Capital Bancshares from $63.00 to $64.00 in a research note on Monday, April 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $59.00 target price on shares of Texas Capital Bancshares in a report on Friday, April 21st. JPMorgan Chase & Co. decreased their price target on shares of Texas Capital Bancshares from $55.00 to $50.00 in a research report on Thursday, April 6th. Stephens raised their price target on shares of Texas Capital Bancshares from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, April 21st. Finally, Wedbush raised their price target on shares of Texas Capital Bancshares from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, April 21st. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $57.90.

Texas Capital Bancshares Profile

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Texas Capital Bancshares, Inc is the holding company of Texas Capital Bank, which engages in the provision of financial services and customized solutions to businesses, entrepreneurs, and individual customers. The company was founded by George F. Jones, Jr. and Joseph M. Grant in November 1996 and is headquartered in Dallas, TX.