Renaissance Technologies LLC Lowers Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Renaissance Technologies LLC decreased its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 40.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,800 shares of the bank's stock after selling 57,100 shares during the quarter. Renaissance Technologies LLC owned about 0.18% of Texas Capital Bancshares worth $6,553,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Texas Capital Bancshares by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank's stock valued at $367,327,000 after acquiring an additional 20,245 shares during the period. Geode Capital Management LLC lifted its stake in Texas Capital Bancshares by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank's stock worth $81,856,000 after purchasing an additional 13,022 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Texas Capital Bancshares by 22.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock valued at $58,246,000 after buying an additional 138,734 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Texas Capital Bancshares by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 627,890 shares of the bank's stock worth $49,101,000 after buying an additional 15,320 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Texas Capital Bancshares by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 572,539 shares of the bank's stock worth $44,773,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors own 96.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TCBI shares. StockNews.com raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a research report on Monday. Keefe, Bruyette & Woods cut their target price on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating on the stock in a research note on Monday. DA Davidson reduced their price target on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Piper Sandler decreased their price objective on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $76.64.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI traded down $0.28 during trading on Thursday, hitting $66.92. The company had a trading volume of 93,268 shares, compared to its average volume of 531,285. Texas Capital Bancshares, Inc. has a fifty-two week low of $56.24 and a fifty-two week high of $91.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $72.29 and a two-hundred day simple moving average of $77.90. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 52.31, 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 results on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. The firm had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. On average, research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 7,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average price of $21.10 per share, with a total value of $147,700.00. Following the transaction, the director now owns 202,413 shares in the company, valued at $4,270,914.30. This represents a 3.58 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders acquired 33,902 shares of company stock worth $943,002. Insiders own 1.72% of the company's stock.

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.