Phocas Financial Corp. Sells 99,788 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Phocas Financial Corp. lessened its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 85.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,572 shares of the bank's stock after selling 99,788 shares during the period. Texas Capital Bancshares comprises 1.0% of Phocas Financial Corp.'s portfolio, making the stock its 26th largest holding. Phocas Financial Corp.'s holdings in Texas Capital Bancshares were worth $1,374,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TCBI. Algert Global LLC lifted its position in Texas Capital Bancshares by 367.3% during the third quarter. Algert Global LLC now owns 22,316 shares of the bank's stock valued at $1,595,000 after purchasing an additional 17,540 shares during the period. Jane Street Group LLC lifted its position in Texas Capital Bancshares by 107.2% during the third quarter. Jane Street Group LLC now owns 132,672 shares of the bank's stock valued at $9,481,000 after purchasing an additional 68,632 shares during the period. LMR Partners LLP bought a new position in Texas Capital Bancshares during the third quarter valued at approximately $740,000. Wolverine Asset Management LLC lifted its position in Texas Capital Bancshares by 23.6% during the third quarter. Wolverine Asset Management LLC now owns 41,038 shares of the bank's stock valued at $2,933,000 after purchasing an additional 7,849 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Texas Capital Bancshares by 19.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank's stock valued at $4,045,000 after purchasing an additional 9,225 shares during the period. Institutional investors own 96.88% of the company's stock.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 5,670 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was bought at an average cost of $27.60 per share, with a total value of $156,492.00. Following the completion of the purchase, the director now owns 180,893 shares of the company's stock, valued at approximately $4,992,646.80. The trade was a 3.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders purchased 22,402 shares of company stock valued at $510,777. Corporate insiders own 0.99% of the company's stock.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI traded up $0.57 during midday trading on Friday, reaching $79.16. The stock had a trading volume of 431,335 shares, compared to its average volume of 452,527. The stock has a 50-day moving average of $79.13 and a 200-day moving average of $77.20. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 61.84, a price-to-earnings-growth ratio of 0.75 and a beta of 1.16. Texas Capital Bancshares, Inc. has a 12-month low of $54.68 and a 12-month high of $91.80.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays increased their price target 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 reiterated an "outperform" rating and issued a $95.00 price target (down from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an "underweight" rating on the stock in a research report on Friday, January 24th. Stephens decreased their price target on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Finally, DA Davidson decreased their price target on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a "neutral" rating on the stock 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 given a buy rating to the company's stock. According to MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and an average price target of $79.13.

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.