Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Stock Holdings Trimmed by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 2.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 606,099 shares of the bank’s stock after selling 12,725 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Texas Capital Bancshares were worth $43,312,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Texas Capital Bancshares in the 2nd quarter valued at approximately $26,000. Blue Trust Inc. raised its holdings in shares of Texas Capital Bancshares by 89.9% during the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after purchasing an additional 169 shares during the period. CWM LLC lifted its position in shares of Texas Capital Bancshares by 40.8% in the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after buying an additional 275 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at about $71,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Texas Capital Bancshares during the 3rd quarter valued at about $201,000. Institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Trading Up 3.1 %

Texas Capital Bancshares stock opened at $87.73 on Monday. Texas Capital Bancshares, Inc. has a 12-month low of $53.69 and a 12-month high of $91.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $4.05 billion, a PE ratio of 487.39, a price-to-earnings-growth ratio of 0.81 and a beta of 1.12. The firm has a 50 day simple moving average of $77.60 and a 200-day simple moving average of $67.66.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The business had revenue of $304.91 million during the quarter, compared to analysts’ expectations of $279.64 million. As a group, equities research analysts expect that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TCBI. StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Bank of America raised Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their target price for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. Wedbush reissued a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a report on Monday, September 9th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.00.

Insider Activity

In related news, Director Robert W. Stallings purchased 20,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were bought at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the acquisition, the director now owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.99% 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.