Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC lessened its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 196,929 shares of the bank's stock after selling 69,059 shares during the quarter. Texas Capital Bancshares accounts for 1.5% of Penn Capital Management Company LLC's investment portfolio, making the stock its 12th biggest position. Penn Capital Management Company LLC owned 0.43% of Texas Capital Bancshares worth $15,400,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TCBI. Barclays PLC boosted its holdings in Texas Capital Bancshares by 19.6% in the third quarter. Barclays PLC now owns 108,950 shares of the bank's stock valued at $7,786,000 after acquiring an additional 17,863 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Texas Capital Bancshares in the 3rd quarter worth about $310,000. Cim Investment Management Inc. purchased a new position in Texas Capital Bancshares in the 3rd quarter worth approximately $212,000. Moody National Bank Trust Division lifted its holdings in shares of Texas Capital Bancshares by 9.5% during the fourth quarter. Moody National Bank Trust Division now owns 17,371 shares of the bank's stock valued at $1,358,000 after purchasing an additional 1,508 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Texas Capital Bancshares by 5.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,948 shares of the bank's stock valued at $700,000 after acquiring an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 500 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was purchased at an average cost of $68.20 per share, with a total value of $34,100.00. Following the transaction, the director now directly owns 289,961 shares in the company, valued at $19,775,340.20. This trade represents a 0.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders purchased 26,726 shares of company stock worth $778,504. 1.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on TCBI. Hovde Group cut their price target on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. DA Davidson dropped their price target on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. reduced their price objective on Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. StockNews.com upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Piper Sandler cut their price target on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $76.64.

Texas Capital Bancshares Trading Up 1.0 %

TCBI traded up $0.65 during mid-day trading on Monday, hitting $68.54. 457,187 shares of the stock were exchanged, compared to its average volume of 446,781. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.15 billion, a PE ratio of 53.55, a PEG ratio of 0.75 and a beta of 0.74. The firm's fifty day moving average is $71.75 and its two-hundred day moving average is $77.89. Texas Capital Bancshares, Inc. has a 1-year low of $56.24 and a 1-year high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). The company had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. Equities analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

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.