King Luther Capital Management Corp Sells 3,736 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

King Luther Capital Management Corp decreased its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 6.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 57,441 shares of the bank’s stock after selling 3,736 shares during the period. King Luther Capital Management Corp’s holdings in Texas Capital Bancshares were worth $4,105,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC lifted its stake in shares of Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares during the period. Millennium Management LLC raised its holdings in Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after acquiring an additional 221,454 shares in the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Texas Capital Bancshares in the 2nd quarter worth approximately $11,489,000. American Century Companies Inc. grew its holdings in shares of Texas Capital Bancshares by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after purchasing an additional 171,263 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Texas Capital Bancshares by 1,905.7% during the second quarter. SG Americas Securities LLC now owns 78,864 shares of the bank’s stock valued at $4,822,000 after purchasing an additional 74,932 shares during the period. Institutional investors own 96.88% of the company’s stock.

Insider Activity

In other news, Director Robert W. Stallings acquired 20,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average cost of $21.28 per share, with a total value of $425,600.00. Following the acquisition, the director now owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This trade represents a 30.97 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.99% of the stock is currently owned by insiders.

Texas Capital Bancshares Trading Up 3.1 %

TCBI opened at $87.73 on Friday. Texas Capital Bancshares, Inc. has a 1-year low of $53.69 and a 1-year high of $91.29. The stock has a market capitalization of $4.05 billion, a PE ratio of 487.39, a PEG ratio of 0.82 and a beta of 1.12. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $77.60 and a two-hundred day moving average price of $67.57.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.65. The firm had revenue of $304.91 million during the quarter, compared to analysts’ expectations of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. As a group, equities analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TCBI shares. Barclays raised their target price on Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $77.00 to $82.00 in a research report on Friday, October 18th. Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a research note on Tuesday, September 17th. Bank of America raised Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $77.00 in a report on Monday, September 9th. Finally, Hovde Group increased their target price on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $74.00.

Texas Capital Bancshares 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.