Arizona State Retirement System Has $867,000 Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Arizona State Retirement System cut its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,418 shares of the bank’s stock after selling 212 shares during the period. Arizona State Retirement System’s holdings in Texas Capital Bancshares were worth $867,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Texas Capital Bancshares by 78.0% in the third quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock worth $32,937,000 after purchasing an additional 245,074 shares during the period. Walleye Capital LLC raised its holdings in Texas Capital Bancshares by 63.9% in the third quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock worth $10,267,000 after purchasing an additional 67,964 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Texas Capital Bancshares by 131.9% during the third quarter. New York State Common Retirement Fund now owns 150,829 shares of the bank’s stock worth $8,884,000 after acquiring an additional 85,793 shares during the period. First Dallas Securities Inc. acquired a new stake in shares of Texas Capital Bancshares during the third quarter worth $1,178,000. Finally, North Reef Capital Management LP raised its holdings in shares of Texas Capital Bancshares by 99.2% during the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock worth $85,405,000 after acquiring an additional 722,250 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Royal Bank of Canada dropped their price objective on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Jefferies Financial Group dropped their price objective on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Barclays assumed coverage on shares of Texas Capital Bancshares in a report on Friday, March 8th. They set an “underweight” rating and a $47.00 price objective on the stock. Citigroup dropped their price objective on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Finally, Raymond James lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, April 4th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $64.45.

Texas Capital Bancshares Stock Down 1.6 %

Shares of TCBI stock opened at $55.51 on Wednesday. The firm’s fifty day moving average price is $59.03 and its two-hundred day moving average price is $59.04. Texas Capital Bancshares, Inc. has a 1 year low of $42.79 and a 1 year high of $66.18. The firm has a market capitalization of $2.63 billion, a P/E ratio of 15.68, a PEG ratio of 1.99 and a beta of 1.19. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.24). Texas Capital Bancshares had a net margin of 10.56% and a return on equity of 7.28%. The firm had revenue of $245.85 million during the quarter, compared to the consensus estimate of $251.96 million. During the same period last year, the business earned $0.87 EPS. On average, equities analysts predict that Texas Capital Bancshares, Inc. will post 3.55 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert W. Stallings acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was bought at an average price of $19.09 per share, with a total value of $95,450.00. Following the transaction, the director now directly owns 117,706 shares in the company, valued at approximately $2,247,007.54. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Robert W. Stallings bought 5,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, January 25th. The stock was acquired at an average price of $19.09 per share, with a total value of $95,450.00. Following the acquisition, the director now owns 117,706 shares of the company’s stock, valued at approximately $2,247,007.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas E. Long bought 2,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average cost of $58.78 per share, with a total value of $117,560.00. Following the acquisition, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The disclosure for this purchase can be found here. Insiders bought a total of 28,000 shares of company stock valued at $612,850 in the last quarter. Company insiders own 1.53% of the company’s stock.

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.