North Reef Capital Management LP Reduces Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

North Reef Capital Management LP decreased its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 44.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 928,439 shares of the bank's stock after selling 746,561 shares during the period. Texas Capital Bancshares accounts for about 3.3% of North Reef Capital Management LP's portfolio, making the stock its 13th biggest position. North Reef Capital Management LP owned 2.01% of Texas Capital Bancshares worth $72,604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its holdings in Texas Capital Bancshares by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,305,685 shares of the bank's stock worth $258,505,000 after acquiring an additional 28,282 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Texas Capital Bancshares by 10.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,328 shares of the bank's stock worth $2,685,000 after acquiring an additional 3,292 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Texas Capital Bancshares in the fourth quarter worth approximately $523,000. Susquehanna International Group LLP boosted its holdings in Texas Capital Bancshares by 95.1% in the fourth quarter. Susquehanna International Group LLP now owns 30,895 shares of the bank's stock worth $2,416,000 after acquiring an additional 15,063 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in Texas Capital Bancshares in the fourth quarter worth approximately $907,000. Institutional investors own 96.88% of the company's stock.

Wall Street Analysts Forecast Growth

TCBI has been the topic of several recent research reports. Raymond James cut their price target on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Stephens decreased their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods lowered their price target on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price objective on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. Finally, Hovde Group cut their price objective on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus price target of $76.64.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 7,000 shares of the company's stock in a transaction on Thursday, February 6th. The shares were acquired at an average cost of $21.32 per share, with a total value of $149,240.00. Following the completion of the acquisition, the director now directly owns 215,413 shares in the company, valued at $4,592,605.16. This trade represents a 3.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 26,726 shares of company stock valued at $778,504 over the last three months. 1.72% of the stock is currently owned by insiders.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ:TCBI traded up $0.65 during midday trading on Monday, reaching $68.54. The company had a trading volume of 457,187 shares, compared to its average volume of 446,781. The company's 50 day moving average price is $71.48 and its 200 day moving average price is $77.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.15 billion, a P/E ratio of 53.55, a P/E/G ratio of 0.75 and a beta of 0.74. Texas Capital Bancshares, Inc. has a 52-week low of $56.24 and a 52-week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). The company had revenue of $280.48 million during the quarter, compared to analysts' expectations of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. As a group, sell-side analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

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.