Massachusetts Financial Services Co. MA Sells 12,725 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Massachusetts Financial Services Co. MA lowered its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 606,099 shares of the bank's stock after selling 12,725 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.31% of Texas Capital Bancshares worth $43,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of TCBI. Innealta Capital LLC purchased a new stake in shares of Texas Capital Bancshares during the second quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake 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 acquiring an additional 169 shares during the period. CWM LLC lifted its stake in 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 during the period. Meeder Asset Management Inc. purchased a new stake in Texas Capital Bancshares in the third quarter worth $71,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Texas Capital Bancshares in the third quarter worth $201,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 20,000 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the purchase, the director now directly owns 84,587 shares of the company's stock, valued at $1,800,011.36. This trade represents a 30.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.53% of the stock is currently owned by corporate insiders.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI traded up $2.33 during mid-day trading on Monday, reaching $90.06. The company's stock had a trading volume of 328,113 shares, compared to its average volume of 432,434. Texas Capital Bancshares, Inc. has a 12-month low of $53.69 and a 12-month high of $91.80. The firm's fifty day moving average price is $77.60 and its two-hundred day moving average price is $67.66. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.16 billion, a P/E ratio of 487.39, a PEG ratio of 0.83 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, beating 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 firm had revenue of $304.91 million during the quarter, compared to analyst estimates of $279.64 million. On average, equities analysts forecast that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TCBI. Royal Bank of Canada raised their price target on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a "sector perform" rating in a research note on Friday, October 18th. DA Davidson increased their price objective on Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. 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 Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, October 18th. Finally, Wedbush reiterated a "sector perform" rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $74.00.

Texas Capital Bancshares Company 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.