New York State Common Retirement Fund Sells 27,230 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

New York State Common Retirement Fund cut its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,625 shares of the bank's stock after selling 27,230 shares during the period. New York State Common Retirement Fund owned approximately 0.36% of Texas Capital Bancshares worth $12,874,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Blue Trust Inc. increased its stake in Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank's stock worth $26,000 after purchasing an additional 169 shares in the last quarter. Icon Wealth Advisors LLC purchased a new position in shares of Texas Capital Bancshares in the third quarter worth approximately $31,000. Venturi Wealth Management LLC acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $37,000. R Squared Ltd acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $41,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Texas Capital Bancshares in the 3rd quarter valued at approximately $71,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays lifted their price objective on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an "underweight" rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $95.00 price target (down from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. DA Davidson decreased their price objective 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. Stephens lowered their target price on Texas Capital Bancshares from $102.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and an average target price of $79.13.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock traded up $0.44 during trading on Thursday, reaching $78.59. The company had a trading volume of 253,136 shares, compared to its average volume of 453,085. The firm's 50 day simple moving average is $79.05 and its two-hundred day simple moving average is $77.05. Texas Capital Bancshares, Inc. has a one year low of $54.68 and a one year high of $91.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $3.62 billion, a PE ratio of 61.40, a PEG ratio of 0.75 and a beta of 1.16.

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

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 2,006 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was acquired at an average price of $20.99 per share, with a total value of $42,105.94. Following the transaction, the director now owns 182,899 shares of the company's stock, valued at approximately $3,839,050.01. This trade represents a 1.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 22,402 shares of company stock worth $510,777 in the last quarter. 1.53% of the stock is currently owned by company insiders.

About Texas Capital Bancshares

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.