UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 13.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,403 shares of the bank's stock after selling 10,957 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.15% of Texas Capital Bancshares worth $5,102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Texas Capital Bancshares by 87.0% in 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. Millennium Management LLC boosted its position in shares of Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank's stock worth $22,767,000 after purchasing an additional 221,454 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in Texas Capital Bancshares during the 2nd quarter worth $11,489,000. American Century Companies Inc. increased its position in Texas Capital Bancshares by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank's stock valued at $34,392,000 after buying an additional 171,263 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Texas Capital Bancshares by 326.6% during the third quarter. Victory Capital Management Inc. now owns 70,103 shares of the bank's stock valued at $5,010,000 after acquiring an additional 53,669 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock traded down $1.16 during trading hours on Thursday, reaching $85.53. The stock had a trading volume of 302,356 shares, compared to its average volume of 424,932. The stock's 50 day moving average is $81.95 and its 200 day moving average is $70.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a twelve month low of $54.68 and a twelve month high of $91.80. The firm has a market capitalization of $3.95 billion, a PE ratio of 475.17, a PEG ratio of 0.83 and a beta of 1.14.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.65. The firm had revenue of $304.91 million during 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%. Equities analysts expect that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on TCBI. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an "underweight" rating in a research note on Friday, October 18th. Piper Sandler cut Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $77.00 to $82.00 in a research note on Friday, October 18th. Barclays lifted their target price on Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an "underweight" rating in a report on Thursday, December 5th. Finally, Raymond James upgraded shares of Texas Capital Bancshares from a "market perform" rating to an "outperform" rating and set a $78.00 price target on the stock in a report on Tuesday, September 17th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Texas Capital Bancshares has a consensus rating of "Hold" and an average price target of $74.69.

Insider Activity

In related news, Director Robert W. Stallings purchased 20,000 shares of the firm's stock in a transaction that occurred on 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 purchase, the director now owns 84,587 shares of the company's stock, valued at $1,800,011.36. This represents a 30.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.99% of the company's stock.

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.