Bank of New York Mellon Corp Sells 17,456 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Bank of New York Mellon Corp lessened its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 772,444 shares of the bank's stock after selling 17,456 shares during the quarter. Bank of New York Mellon Corp owned 1.67% of Texas Capital Bancshares worth $60,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Algert Global LLC raised its position in shares of Texas Capital Bancshares by 367.3% in the 3rd quarter. Algert Global LLC now owns 22,316 shares of the bank's stock worth $1,595,000 after purchasing an additional 17,540 shares during the last quarter. Jane Street Group LLC raised its position in shares of Texas Capital Bancshares by 107.2% in the 3rd quarter. Jane Street Group LLC now owns 132,672 shares of the bank's stock worth $9,481,000 after purchasing an additional 68,632 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter worth about $740,000. Wolverine Asset Management LLC raised its position in shares of Texas Capital Bancshares by 23.6% in the 3rd quarter. Wolverine Asset Management LLC now owns 41,038 shares of the bank's stock worth $2,933,000 after purchasing an additional 7,849 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter worth about $440,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ:TCBI traded up $0.29 during mid-day trading on Friday, reaching $74.01. 773,815 shares of the company traded hands, compared to its average volume of 407,589. The company's 50 day moving average price is $78.91 and its 200-day moving average price is $77.62. The firm has a market cap of $3.41 billion, a PE ratio of 57.82, a PEG ratio of 0.75 and a beta of 1.13. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares, Inc. has a 52 week low of $54.68 and a 52 week high of $91.80.

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Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. On average, equities analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on TCBI. Hovde Group lowered their price target on Texas Capital Bancshares from $90.00 to $84.00 and set a "market perform" rating for the company in a research report on Friday. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $95.00 target price (down previously from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Barclays boosted their target price on Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an "underweight" rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. decreased their target price on Texas Capital Bancshares from $81.00 to $80.00 and set an "underweight" rating for the company in a research report on Friday, January 24th. Finally, DA Davidson decreased their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a "neutral" rating for the company in a research report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $79.47.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 2,006 shares of the company's stock in a transaction on Monday, January 27th. The stock was acquired at an average cost of $20.99 per share, for a total transaction of $42,105.94. Following the purchase, the director now directly owns 182,899 shares of the company's stock, valued at $3,839,050.01. This trade represents a 1.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders purchased 29,402 shares of company stock worth $653,787. 0.99% of the stock is owned by company insiders.

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.