Raymond James Financial Services Advisors Inc. Trims Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 63.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,554 shares of the bank’s stock after selling 6,160 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Texas Capital Bancshares were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TCBI. Vanguard Group Inc. boosted its holdings in shares of Texas Capital Bancshares by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,820,025 shares of the bank’s stock worth $283,899,000 after purchasing an additional 25,113 shares in the last quarter. North Reef Capital Management LP boosted its holdings in shares of Texas Capital Bancshares by 99.2% in the 3rd quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock worth $85,405,000 after purchasing an additional 722,250 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Texas Capital Bancshares by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,291,087 shares of the bank’s stock worth $76,045,000 after purchasing an additional 4,210 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Texas Capital Bancshares by 0.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 663,768 shares of the bank’s stock worth $39,096,000 after purchasing an additional 3,641 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Texas Capital Bancshares by 78.0% in the 3rd quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock worth $32,937,000 after purchasing an additional 245,074 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Texas Capital Bancshares

In other news, Director Thomas E. Long purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the purchase, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robert W. Stallings bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were bought at an average cost of $18.81 per share, with a total value of $94,050.00. Following the acquisition, the director now owns 140,706 shares in the company, valued at $2,646,679.86. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas E. Long bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the acquisition, the director now owns 7,542 shares in the company, valued at approximately $443,318.76. The disclosure for this purchase can be found here. Insiders have bought a total of 18,000 shares of company stock worth $422,650 in the last ninety days. Insiders own 1.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TCBI. Barclays began coverage on Texas Capital Bancshares in a report on Friday, March 8th. They issued an “underweight” rating and a $47.00 price objective for the company. Royal Bank of Canada dropped their target price on Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. Raymond James cut Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods dropped their target price on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Monday. Finally, Wedbush dropped their target price on Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.58.

Texas Capital Bancshares Stock Performance

TCBI stock opened at $60.12 on Thursday. The company has a market cap of $2.80 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 2.09 and a beta of 1.19. Texas Capital Bancshares, Inc. has a 1 year low of $42.79 and a 1 year high of $66.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s fifty day moving average price is $59.01 and its 200-day moving average price is $59.05.

Texas Capital Bancshares Company Profile

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.