Hennessy Advisors Inc. Cuts Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Hennessy Advisors Inc. reduced its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the bank's stock after selling 10,000 shares during the period. Hennessy Advisors Inc.'s holdings in Texas Capital Bancshares were worth $782,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. AlphaMark Advisors LLC lifted its holdings in Texas Capital Bancshares by 2.6% during the third quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank's stock valued at $386,000 after purchasing an additional 139 shares in the last quarter. Blue Trust Inc. raised its position in shares of Texas Capital Bancshares by 89.9% during the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank's stock valued at $26,000 after purchasing an additional 169 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Texas Capital Bancshares by 3.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank's stock valued at $383,000 after buying an additional 180 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Texas Capital Bancshares by 5.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank's stock worth $309,000 after buying an additional 217 shares during the period. Finally, Tectonic Advisors LLC boosted its holdings in Texas Capital Bancshares by 1.1% in the 3rd quarter. Tectonic Advisors LLC now owns 22,818 shares of the bank's stock worth $1,631,000 after buying an additional 244 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TCBI. Hovde Group raised their price target on Texas Capital Bancshares from $73.00 to $79.00 and gave the company a "market perform" rating in a report on Friday, October 18th. DA Davidson lifted their target price on Texas Capital Bancshares from $73.00 to $81.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. StockNews.com upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their price objective on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a "sector perform" rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Texas Capital Bancshares from $86.00 to $81.00 and set an "underweight" rating on the stock in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $74.75.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 20,000 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The stock was purchased at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the purchase, the director now owns 84,587 shares of the company's stock, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.53% of the company's stock.

Texas Capital Bancshares Trading Up 2.3 %

NASDAQ TCBI traded up $1.78 during trading hours on Friday, hitting $80.74. 390,539 shares of the company were exchanged, compared to its average volume of 345,600. The stock has a 50-day moving average price of $82.65 and a 200 day moving average price of $73.87. Texas Capital Bancshares, Inc. has a 52 week low of $54.68 and a 52 week high of $91.80. The stock has a market cap of $3.73 billion, a PE ratio of 448.56, a price-to-earnings-growth ratio of 0.66 and a beta of 1.17. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The company had revenue of $304.91 million during the quarter, compared to analyst estimates of $279.64 million. Analysts forecast that Texas Capital Bancshares, Inc. will post 4.08 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.