State of New Jersey Common Pension Fund D Sells 970 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

State of New Jersey Common Pension Fund D trimmed its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,945 shares of the bank’s stock after selling 970 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Texas Capital Bancshares were worth $2,140,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in shares of Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares during the last quarter. American Century Companies Inc. lifted its position in Texas Capital Bancshares by 43.8% during the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after acquiring an additional 171,263 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Texas Capital Bancshares by 11.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank’s stock valued at $23,323,000 after acquiring an additional 38,393 shares in the last quarter. Millennium Management LLC grew its holdings in Texas Capital Bancshares by 146.7% in the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after purchasing an additional 221,454 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Texas Capital Bancshares by 2.5% during the first quarter. Clearbridge Investments LLC now owns 234,227 shares of the bank’s stock worth $14,417,000 after purchasing an additional 5,671 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TCBI has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 target price on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their price objective for the company from $51.00 to $77.00 in a research report on Monday, September 9th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Stephens boosted their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a research note on Tuesday, September 17th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $74.00.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 20,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average price of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the transaction, the director now directly owns 84,587 shares in the company, valued at $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.99% of the stock is owned by corporate insiders.

Texas Capital Bancshares Stock Performance

TCBI opened at $88.89 on Friday. The firm has a fifty day moving average price of $75.48 and a 200 day moving average price of $66.45. Texas Capital Bancshares, Inc. has a 1 year low of $53.16 and a 1 year high of $91.29. The stock has a market cap of $4.11 billion, a P/E ratio of 493.83, a P/E/G ratio of 0.85 and a beta of 1.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The business had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. Equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

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.