PNC Financial Services Group Inc. Reduces Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

PNC Financial Services Group Inc. decreased its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,998 shares of the bank’s stock after selling 401 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Texas Capital Bancshares were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TCBI. Headlands Technologies LLC raised its holdings in Texas Capital Bancshares by 41.9% in the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock worth $104,000 after purchasing an additional 476 shares in the last quarter. Keener Financial Planning LLC bought a new position in Texas Capital Bancshares in the fourth quarter worth $139,000. Anchor Investment Management LLC bought a new position in Texas Capital Bancshares in the fourth quarter worth $152,000. TFO Wealth Partners LLC raised its holdings in Texas Capital Bancshares by 123,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock worth $160,000 after purchasing an additional 2,475 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in Texas Capital Bancshares in the fourth quarter worth $204,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert W. Stallings bought 3,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were acquired at an average cost of $19.36 per share, with a total value of $58,080.00. Following the completion of the transaction, the director now owns 169,706 shares of the company’s stock, valued at approximately $3,285,508.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robert W. Stallings acquired 6,000 shares of the stock in a transaction dated Monday, May 20th. The shares were purchased at an average cost of $19.52 per share, with a total value of $117,120.00. Following the transaction, the director now directly owns 163,706 shares in the company, valued at $3,195,541.12. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert W. Stallings acquired 3,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average cost of $19.36 per share, for a total transaction of $58,080.00. Following the completion of the transaction, the director now owns 169,706 shares in the company, valued at $3,285,508.16. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 15,004 shares of company stock valued at $292,878. Insiders own 1.53% of the company’s stock.

Texas Capital Bancshares Trading Down 0.8 %

Shares of NASDAQ:TCBI opened at $60.66 on Tuesday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $59.45 and its two-hundred day simple moving average is $60.14. Texas Capital Bancshares, Inc. has a 52-week low of $50.40 and a 52-week high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, April 18th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. The business had revenue of $256.33 million for the quarter, compared to analysts’ expectations of $253.27 million. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. Analysts expect that Texas Capital Bancshares, Inc. will post 3.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TCBI shares. Keefe, Bruyette & Woods decreased their price objective on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Barclays started coverage on Texas Capital Bancshares in a report on Friday, March 8th. They set an “underweight” rating and a $47.00 price target for the company. Raymond James downgraded Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 4th. Royal Bank of Canada reduced their price target on Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. Finally, Hovde Group reduced their price target on Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a report on Friday, April 19th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.58.

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.