Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by State Street Corp

State Street Corp cut its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 3.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,448,759 shares of the bank's stock after selling 94,242 shares during the period. State Street Corp owned 5.30% of Texas Capital Bancshares worth $174,988,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. AlphaMark Advisors LLC boosted its position in Texas Capital Bancshares by 2.6% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank's stock valued at $386,000 after acquiring an additional 139 shares in the last quarter. Blue Trust Inc. grew 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 valued at $26,000 after purchasing an additional 169 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Texas Capital Bancshares by 3.5% in the third quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank's stock worth $383,000 after purchasing an additional 180 shares in the last quarter. Tectonic Advisors LLC lifted its position in shares of Texas Capital Bancshares by 1.1% during the third quarter. Tectonic Advisors LLC now owns 22,818 shares of the bank's stock valued at $1,631,000 after buying an additional 244 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in shares of Texas Capital Bancshares by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank's stock valued at $828,000 after buying an additional 257 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TCBI has been the subject of several recent analyst reports. DA Davidson raised their target price on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Wedbush reissued a "sector perform" rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Hovde Group upped their target price on Texas Capital Bancshares from $73.00 to $79.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $74.00 price target on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Finally, StockNews.com upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $74.69.

Texas Capital Bancshares Stock Performance

Shares of TCBI traded down $0.99 during mid-day trading on Friday, reaching $84.54. The company had a trading volume of 92,218 shares, compared to its average volume of 423,492. The stock has a market capitalization of $3.91 billion, a P/E ratio of 475.17, a PEG ratio of 0.82 and a beta of 1.14. Texas Capital Bancshares, Inc. has a 52-week low of $54.68 and a 52-week high of $91.80. The stock has a 50 day moving average of $82.25 and a two-hundred day moving average of $70.17. 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 released 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. The business had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. On average, analysts expect that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average price of $21.28 per share, for a total transaction of $425,600.00. Following the transaction, the director now directly owns 84,587 shares of the company's stock, valued at approximately $1,800,011.36. This represents a 30.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.99% of the stock is owned by company insiders.

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.