ArrowMark Colorado Holdings LLC Trims Stock Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

ArrowMark Colorado Holdings LLC reduced its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 15.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 136,000 shares of the bank's stock after selling 24,000 shares during the period. ArrowMark Colorado Holdings LLC owned 0.29% of Texas Capital Bancshares worth $9,719,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TCBI. Blue Trust Inc. raised its holdings in Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank's stock worth $26,000 after purchasing an additional 169 shares during the period. Innealta Capital LLC bought a new position in Texas Capital Bancshares during the second quarter worth about $26,000. Icon Wealth Advisors LLC acquired a new position in Texas Capital Bancshares in the third quarter valued at about $31,000. CWM LLC increased its holdings in shares of Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank's stock worth $58,000 after acquiring an additional 275 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Texas Capital Bancshares in the third quarter worth about $71,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 20,000 shares of the firm's stock in a transaction on Tuesday, October 22nd. The shares were purchased at an average price of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the transaction, the director now owns 84,587 shares of the company's stock, valued at $1,800,011.36. The trade was a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TCBI. StockNews.com upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price objective on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an "underweight" rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $74.00 target price on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Piper Sandler downgraded Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $77.00 to $82.00 in a research report on Friday, October 18th. Finally, Bank of America upgraded Texas Capital Bancshares from an "underperform" rating to a "buy" rating and raised their price objective for the company from $51.00 to $77.00 in a report on Monday, September 9th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $74.00.

Texas Capital Bancshares Stock Up 0.1 %

Texas Capital Bancshares stock traded up $0.12 during mid-day trading on Tuesday, reaching $88.76. The stock had a trading volume of 65,449 shares, compared to its average volume of 428,350. Texas Capital Bancshares, Inc. has a fifty-two week low of $54.68 and a fifty-two week high of $91.80. The firm has a market capitalization of $4.10 billion, a PE ratio of 489.44, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. The stock's 50-day simple moving average is $79.64 and its 200-day simple moving average is $68.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.65. The company had revenue of $304.91 million for 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%. On average, sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current fiscal year.

About Texas Capital Bancshares

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.