Phocas Financial Corp. Has $6.60 Million Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Phocas Financial Corp. reduced its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,134 shares of the bank’s stock after selling 688 shares during the period. Phocas Financial Corp. owned approximately 0.27% of Texas Capital Bancshares worth $6,599,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of Texas Capital Bancshares by 26.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,633,859 shares of the bank’s stock worth $219,159,000 after buying an additional 762,038 shares in the last quarter. State Street Corp grew its position in shares of Texas Capital Bancshares by 5.1% in the 1st quarter. State Street Corp now owns 3,268,391 shares of the bank’s stock valued at $187,311,000 after buying an additional 158,815 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Texas Capital Bancshares by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,248,947 shares of the bank’s stock valued at $159,068,000 after buying an additional 51,353 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Texas Capital Bancshares by 68.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,278,954 shares of the bank’s stock valued at $119,964,000 after buying an additional 927,419 shares during the last quarter. Finally, Basswood Capital Management L.L.C. grew its position in shares of Texas Capital Bancshares by 184.2% in the 1st quarter. Basswood Capital Management L.L.C. now owns 2,067,359 shares of the bank’s stock valued at $101,218,000 after buying an additional 1,340,025 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 5,000 shares of Texas Capital Bancshares stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average cost of $61.53 per share, with a total value of $307,650.00. Following the completion of the acquisition, the director now owns 264,000 shares in the company, valued at $16,243,920. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert W. Stallings purchased 1,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was purchased at an average cost of $59.87 per share, with a total value of $59,870.00. Following the completion of the acquisition, the director now directly owns 265,000 shares of the company’s stock, valued at $15,865,550. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Stallings purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $61.53 per share, with a total value of $307,650.00. Following the completion of the acquisition, the director now directly owns 264,000 shares of the company’s stock, valued at $16,243,920. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 10,000 shares of company stock valued at $609,600. Company insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock traded down $0.25 during trading on Tuesday, hitting $61.36. The company’s stock had a trading volume of 165,191 shares, compared to its average volume of 504,425. The company has a market cap of $2.95 billion, a PE ratio of 8.80, a P/E/G ratio of 1.85 and a beta of 1.32. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $61.54 and a 200-day moving average of $54.95. Texas Capital Bancshares, Inc. has a 52 week low of $42.79 and a 52 week high of $69.26.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, July 20th. The bank reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.38. Texas Capital Bancshares had a return on equity of 7.23% and a net margin of 19.60%. The company had revenue of $447.93 million during the quarter, compared to analyst estimates of $269.61 million. During the same period in the prior year, the company posted $0.59 earnings per share. As a group, research analysts anticipate that Texas Capital Bancshares, Inc. will post 4.17 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on TCBI shares. Raymond James upped their target price on Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “strong-buy” rating in a research report on Friday, July 21st. Truist Financial cut their target price on Texas Capital Bancshares from $64.00 to $58.00 in a research report on Thursday, June 29th. Wedbush upped their target price on Texas Capital Bancshares from $55.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. JPMorgan Chase & Co. upped their target price on Texas Capital Bancshares from $52.00 to $56.00 in a research report on Thursday, June 29th. Finally, StockNews.com began coverage on Texas Capital Bancshares in a research note on Thursday, August 17th. They set a “sell” rating on the stock. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.00.

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, and wealth management services.