JPMorgan Chase & Co. Lowers Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

JPMorgan Chase & Co. lowered its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 180,785 shares of the bank's stock after selling 13,329 shares during the quarter. JPMorgan Chase & Co. owned about 0.39% of Texas Capital Bancshares worth $12,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Texas Capital Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank's stock valued at $81,856,000 after buying an additional 13,022 shares during the period. Wellington Management Group LLP increased its holdings in shares of Texas Capital Bancshares by 15.4% during the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank's stock valued at $80,265,000 after acquiring an additional 150,301 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank's stock valued at $65,219,000 after acquiring an additional 506,094 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Texas Capital Bancshares by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank's stock valued at $40,792,000 after acquiring an additional 10,171 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Texas Capital Bancshares by 43.8% during the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank's stock valued at $34,392,000 after acquiring an additional 171,263 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

Insider Activity

In related news, Director Robert W. Stallings acquired 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average cost of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.99% of the company's stock.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock traded down $3.39 during trading hours on Friday, reaching $73.25. 620,384 shares of the stock traded hands, compared to its average volume of 379,647. The company has a 50 day moving average price of $82.97 and a 200 day moving average price of $73.26. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 406.94, a P/E/G ratio of 0.80 and a beta of 1.17. Texas Capital Bancshares, Inc. has a one year low of $54.68 and a one year high of $91.80. 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 results on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.65. The business had revenue of $304.91 million during the quarter, compared to the consensus estimate of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. On average, equities research analysts expect that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TCBI has been the subject of several analyst reports. StockNews.com upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Piper Sandler downgraded Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and raised their price target for the company from $77.00 to $82.00 in a report on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on Texas Capital Bancshares from $86.00 to $81.00 and set an "underweight" rating for the company in a report on Tuesday, January 7th. DA Davidson raised their price target on Texas Capital Bancshares from $73.00 to $81.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Finally, Royal Bank of Canada lifted their price objective on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a "sector perform" rating in a report on Friday, October 18th. Four 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. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $74.75.

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.