First Mercantile Trust Co. cut its stake in shares of Texas Capital Bancshares Inc. (NASDAQ:TCBI) by 6.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,353 shares of the company’s stock after selling 930 shares during the period. First Mercantile Trust Co.’s holdings in Texas Capital Bancshares were worth $624,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in TCBI. BlackRock Inc. boosted its stake in shares of Texas Capital Bancshares by 97.3% in the first quarter. BlackRock Inc. now owns 3,097 shares of the company’s stock valued at $118,000 after buying an additional 1,527 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Texas Capital Bancshares during the second quarter valued at about $149,000. Strs Ohio boosted its stake in shares of Texas Capital Bancshares by 400.0% in the second quarter. Strs Ohio now owns 4,000 shares of the company’s stock valued at $187,000 after buying an additional 3,200 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Texas Capital Bancshares during the second quarter valued at about $205,000. Finally, Suntrust Banks Inc. bought a new stake in shares of Texas Capital Bancshares during the second quarter valued at about $230,000.
Shares of Texas Capital Bancshares Inc. (NASDAQ:TCBI) opened at 52.81 on Thursday. Texas Capital Bancshares Inc. has a one year low of $29.78 and a one year high of $61.83. The firm has a 50-day moving average price of $51.18 and a 200-day moving average price of $46.08. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 19.49 and a beta of 1.48.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Texas Capital Bancshares had a net margin of 19.73% and a return on equity of 9.14%. During the same period in the prior year, the firm posted $0.76 earnings per share. Analysts anticipate that Texas Capital Bancshares Inc. will post $2.98 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on TCBI. Zacks Investment Research upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. TheStreet cut Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Deutsche Bank AG restated a “buy” rating and issued a $53.00 price target on shares of Texas Capital Bancshares in a research note on Friday, June 17th. Raymond James Financial Inc. restated a “strong-buy” rating on shares of Texas Capital Bancshares in a research note on Friday, June 3rd. Finally, Compass Point assumed coverage on Texas Capital Bancshares in a research note on Friday, July 1st. They issued a “buy” rating and a $54.00 price target on the stock. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $50.82.
In related news, Director James H. Browning sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $52.55, for a total value of $131,375.00. Following the completion of the sale, the director now owns 8,314 shares in the company, valued at approximately $436,900.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loans, deposit accounts and other financial products and services. It offers commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; real estate term and construction loans; mortgage finance lending; equipment leasing; treasury management services; wealth management and trust services, and letters of credit.
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