Ameriprise Financial Inc. decreased its stake in Texas Capital Bancshares Inc. (NASDAQ:TCBI) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 339,539 shares of the company’s stock after selling 18,952 shares during the period. Ameriprise Financial Inc. owned 0.74% of Texas Capital Bancshares worth $15,877,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Neuberger Berman Group LLC increased its stake in Texas Capital Bancshares by 0.3% in the second quarter. Neuberger Berman Group LLC now owns 439,731 shares of the company’s stock valued at $20,562,000 after buying an additional 1,116 shares during the period. I.G. Investment Management LTD. increased its stake in Texas Capital Bancshares by 4.7% in the second quarter. I.G. Investment Management LTD. now owns 6,604 shares of the company’s stock valued at $309,000 after buying an additional 297 shares during the period. First Trust Advisors LP increased its stake in Texas Capital Bancshares by 52.0% in the second quarter. First Trust Advisors LP now owns 69,510 shares of the company’s stock valued at $3,250,000 after buying an additional 23,765 shares during the period. GSA Capital Partners LLP acquired a new stake in Texas Capital Bancshares during the second quarter valued at $205,000. Finally, SG Americas Securities LLC acquired a new stake in Texas Capital Bancshares during the second quarter valued at $409,000.
Texas Capital Bancshares Inc. (NASDAQ:TCBI) traded up 0.39% during midday trading on Friday, hitting $54.25. The company had a trading volume of 371,658 shares. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 20.02 and a beta of 1.48. Texas Capital Bancshares Inc. has a 12 month low of $29.78 and a 12 month high of $61.83. The firm has a 50-day moving average price of $51.38 and a 200-day moving average price of $46.14.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 19.73%. During the same quarter in the prior year, the business posted $0.76 EPS. Equities analysts anticipate that Texas Capital Bancshares Inc. will post $2.98 EPS for the current year.
Several equities analysts have recently commented on the company. TheStreet lowered Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Raymond James Financial Inc. restated an “outperform” rating and set a $54.00 price target (up previously from $52.00) on shares of Texas Capital Bancshares in a research note on Thursday, July 21st. Citigroup Inc. lowered Texas Capital Bancshares to an “outperform” rating and raised their price target for the company from $52.00 to $54.00 in a research note on Thursday, July 21st. Zacks Investment Research upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. 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 target price on the stock. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $50.82.
In other Texas Capital Bancshares news, Director James H. Browning sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $52.55, for a total transaction of $131,375.00. Following the sale, the director now owns 8,314 shares in the company, valued at approximately $436,900.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.08% of the company’s stock.
About Texas Capital Bancshares
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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