Clearbridge Investments LLC Has $14.01 Million Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Clearbridge Investments LLC lessened its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 2.2% during the second quarter, Holdings Channel reports. The institutional investor owned 229,144 shares of the bank’s stock after selling 5,083 shares during the quarter. Clearbridge Investments LLC’s holdings in Texas Capital Bancshares were worth $14,010,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TCBI. Innealta Capital LLC acquired a new stake in Texas Capital Bancshares in the 2nd quarter valued at approximately $26,000. CWM LLC raised its position in Texas Capital Bancshares by 426.6% in the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after buying an additional 546 shares during the last quarter. Mather Group LLC. acquired a new stake in Texas Capital Bancshares in the 1st quarter valued at approximately $50,000. Fidelis Capital Partners LLC acquired a new stake in Texas Capital Bancshares in the 1st quarter valued at approximately $54,000. Finally, Headlands Technologies LLC raised its position in Texas Capital Bancshares by 80.4% in the 1st quarter. Headlands Technologies LLC now owns 2,910 shares of the bank’s stock valued at $179,000 after buying an additional 1,297 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on TCBI shares. Bank of America raised Texas Capital Bancshares from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. Citigroup reaffirmed a “sell” rating and set a $60.00 price target on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 price target on shares of Texas Capital Bancshares in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Monday, September 9th. Finally, Hovde Group boosted their price target on Texas Capital Bancshares from $66.00 to $73.00 and gave the stock a “market perform” rating in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $69.20.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $72.00 on Friday. The stock has a 50 day simple moving average of $66.14 and a 200 day simple moving average of $62.25. The stock has a market cap of $3.33 billion, a P/E ratio of 21.82, a PEG ratio of 0.98 and a beta of 1.13. Texas Capital Bancshares, Inc. has a 1-year low of $52.89 and a 1-year high of $74.57. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). The firm had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same quarter in the previous year, the business earned $1.33 EPS. Research analysts anticipate that Texas Capital Bancshares, Inc. will post 3.53 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $400,000. The trade was a 300.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $400,000. The trade was a 300.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Stallings purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was acquired at an average price of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the purchase, the director now directly owns 12,794 shares of the company’s stock, valued at $263,812.28. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 43,500 shares of company stock worth $876,400. Corporate 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.