Geode Capital Management LLC Sells 6,111 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Geode Capital Management LLC trimmed its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,139,160 shares of the bank's stock after selling 6,111 shares during the quarter. Geode Capital Management LLC owned 2.47% of Texas Capital Bancshares worth $89,102,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its position in Texas Capital Bancshares by 28.9% during the third quarter. FMR LLC now owns 4,167 shares of the bank's stock worth $298,000 after purchasing an additional 935 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Texas Capital Bancshares during the third quarter worth $530,000. HighTower Advisors LLC increased its stake in Texas Capital Bancshares by 13.5% in the third quarter. HighTower Advisors LLC now owns 12,608 shares of the bank's stock valued at $902,000 after purchasing an additional 1,497 shares during the last quarter. Jane Street Group LLC lifted its position in Texas Capital Bancshares by 107.2% during the third quarter. Jane Street Group LLC now owns 132,672 shares of the bank's stock worth $9,481,000 after buying an additional 68,632 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Texas Capital Bancshares in the 3rd quarter valued at about $362,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 2,006 shares of the stock in a transaction dated Monday, January 27th. The stock was bought at an average price of $20.99 per share, with a total value of $42,105.94. Following the completion of the purchase, the director now directly owns 182,899 shares of the company's stock, valued at $3,839,050.01. This represents a 1.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 29,402 shares of company stock worth $653,787 in the last ninety days. 1.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TCBI has been the topic of several recent research reports. Stephens reduced their target price on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. StockNews.com upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. DA Davidson decreased their price target on Texas Capital Bancshares from $90.00 to $87.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Barclays reduced their price objective on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Finally, Hovde Group reduced their price objective on Texas Capital Bancshares from $90.00 to $84.00 and set a "market perform" rating for the company in a research note on Friday, March 7th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $80.36.

Texas Capital Bancshares Stock Performance

TCBI traded down $0.07 during trading hours on Wednesday, reaching $64.15. The company's stock had a trading volume of 82,310 shares, compared to its average volume of 440,099. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. The company's 50-day moving average is $74.29 and its 200-day moving average is $78.16. Texas Capital Bancshares, Inc. has a 52 week low of $54.68 and a 52 week high of $91.80. The firm has a market cap of $2.96 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, topping 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 forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current 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.