Citigroup Inc. Has $5.99 Million Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Citigroup Inc. lessened its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 11.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,770 shares of the bank's stock after selling 11,021 shares during the period. Citigroup Inc. owned 0.18% of Texas Capital Bancshares worth $5,986,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of TCBI. Innealta Capital LLC acquired a new position in shares of Texas Capital Bancshares in the second quarter valued at about $26,000. Blue Trust Inc. increased its position in shares of 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. CWM LLC raised its stake in Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank's stock valued at $58,000 after purchasing an additional 275 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Texas Capital Bancshares during the third quarter worth about $71,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Texas Capital Bancshares during the third quarter worth about $201,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TCBI shares. JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, October 18th. Barclays boosted their target price on Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an "underweight" rating in a research note on Friday, October 18th. Truist Financial raised their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a "hold" rating in a research note on Monday, October 21st. StockNews.com upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, DA Davidson raised their target price on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $74.00.

Insiders Place Their Bets

In related news, Director Robert W. Stallings acquired 20,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, October 22nd. The stock was bought at an average price of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now directly owns 84,587 shares in the company, valued at $1,800,011.36. This represents a 30.97 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.99% of the company's stock.

Texas Capital Bancshares Trading Up 0.2 %

TCBI stock traded up $0.19 during trading on Monday, hitting $88.64. The company had a trading volume of 272,122 shares, compared to its average volume of 429,950. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a one year low of $54.68 and a one year high of $91.80. The business has a 50-day moving average of $79.30 and a 200-day moving average of $68.63. The stock has a market cap of $4.10 billion, a PE ratio of 490.17, a PEG ratio of 0.84 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) 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 company 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%. Research analysts predict that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current fiscal year.

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.