Renaissance Technologies LLC Reduces Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Renaissance Technologies LLC lowered its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 153,100 shares of the bank’s stock after selling 10,300 shares during the quarter. Renaissance Technologies LLC owned about 0.33% of Texas Capital Bancshares worth $9,361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TCBI. Innealta Capital LLC bought a new position in Texas Capital Bancshares during the second quarter worth about $26,000. CWM LLC boosted its holdings in Texas Capital Bancshares by 426.6% in the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after buying an additional 546 shares during the period. Mather Group LLC. bought a new position in Texas Capital Bancshares in the 1st quarter worth approximately $50,000. Fidelis Capital Partners LLC purchased a new position in Texas Capital Bancshares in the 1st quarter valued at approximately $54,000. Finally, TFO Wealth Partners LLC raised its holdings in Texas Capital Bancshares by 123,750.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock valued at $160,000 after acquiring an additional 2,475 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TCBI shares. Citigroup reiterated a “sell” rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $74.00 price target on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Tuesday, September 17th. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $51.00 to $77.00 in a research note on Monday, September 9th. Finally, Jefferies Financial Group lowered their target price on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $69.20.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were acquired at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the purchase, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Robert W. Stallings acquired 15,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $400,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings bought 10,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was bought at an average cost of $20.46 per share, with a total value of $204,600.00. Following the transaction, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. The disclosure for this purchase can be found here. Insiders have bought a total of 43,500 shares of company stock worth $876,400 over the last 90 days. 0.99% of the stock is currently owned by insiders.

Texas Capital Bancshares Stock Down 1.1 %

Shares of NASDAQ:TCBI opened at $70.95 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $65.64 and a two-hundred day simple moving average of $61.74. Texas Capital Bancshares, Inc. has a 12-month low of $52.89 and a 12-month high of $74.57. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.02 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 EPS 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 analysts’ expectations of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same period last year, the company posted $1.33 earnings per share. On average, research analysts anticipate that Texas Capital Bancshares, Inc. will post 3.43 earnings per share for the current fiscal year.

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 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.