Phocas Financial Corp. Has $8.39 Million Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Phocas Financial Corp. lessened its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 117,360 shares of the bank's stock after selling 7,268 shares during the quarter. Phocas Financial Corp. owned approximately 0.25% of Texas Capital Bancshares worth $8,387,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Texas Capital Bancshares by 87.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank's stock worth $65,219,000 after purchasing an additional 506,094 shares during the last quarter. 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 purchasing an additional 171,263 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of Texas Capital Bancshares by 11.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank's stock valued at $23,323,000 after buying an additional 38,393 shares during the period. Millennium Management LLC lifted its position in shares of Texas Capital Bancshares by 146.7% during the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank's stock valued at $22,767,000 after acquiring an additional 221,454 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Texas Capital Bancshares by 2.5% in the first quarter. Clearbridge Investments LLC now owns 234,227 shares of the bank's stock worth $14,417,000 after buying an additional 5,671 shares during the period. Institutional investors and hedge funds own 96.88% of the company's stock.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 20,000 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average cost of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now owns 84,587 shares of the company's stock, valued at $1,800,011.36. The trade was a 30.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on TCBI shares. Royal Bank of Canada upped their price objective on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a "sector perform" rating in a research note on Friday, October 18th. Piper Sandler downgraded Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and increased their price target for the company from $77.00 to $82.00 in a report on Friday, October 18th. Raymond James raised Texas Capital Bancshares from a "market perform" rating to an "outperform" rating and set a $78.00 price objective for the company in a research report on Tuesday, September 17th. Truist Financial raised their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a "hold" rating in a report on Monday, October 21st. Finally, Barclays increased their price objective on Texas Capital Bancshares from $49.00 to $60.00 and gave the company an "underweight" rating in a research report on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of "Hold" and a consensus target price of $74.00.

Texas Capital Bancshares Trading Down 0.5 %

NASDAQ:TCBI traded down $0.39 during trading hours on Tuesday, hitting $85.62. 151,247 shares of the stock were exchanged, compared to its average volume of 429,456. The company has a market capitalization of $3.96 billion, a P/E ratio of 477.83, a price-to-earnings-growth ratio of 0.83 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. The company's 50 day moving average is $76.23 and its two-hundred day moving average is $66.96. Texas Capital Bancshares, Inc. has a twelve month low of $53.16 and a twelve month high of $91.29.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The company had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. On average, sell-side analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current fiscal year.

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.