Liberty Mutual Group Asset Management Inc. reduced its position in Texas Capital Bancshares Inc (NASDAQ:TCBI) by 22.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,774 shares of the bank’s stock after selling 2,817 shares during the quarter. Liberty Mutual Group Asset Management Inc.’s holdings in Texas Capital Bancshares were worth $879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of TCBI. Carillon Tower Advisers Inc. bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth approximately $42,292,000. Victory Capital Management Inc. boosted its position in shares of Texas Capital Bancshares by 118.9% during the fourth quarter. Victory Capital Management Inc. now owns 378,250 shares of the bank’s stock worth $33,626,000 after acquiring an additional 205,490 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth $12,954,000. BlackRock Inc. boosted its position in shares of Texas Capital Bancshares by 2.4% during the first quarter. BlackRock Inc. now owns 5,433,137 shares of the bank’s stock worth $488,439,000 after acquiring an additional 124,992 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Texas Capital Bancshares by 137.4% during the fourth quarter. Deutsche Bank AG now owns 154,952 shares of the bank’s stock worth $13,772,000 after acquiring an additional 89,691 shares during the last quarter.
Texas Capital Bancshares opened at $99.15 on Friday, MarketBeat.com reports. The firm has a market cap of $4.96 billion, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 1.34 and a beta of 1.76. Texas Capital Bancshares Inc has a 52-week low of $69.65 and a 52-week high of $103.05. The company has a current ratio of 1.26, a quick ratio of 1.20 and a debt-to-equity ratio of 1.27.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, April 18th. The bank reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.03. The company had revenue of $230.25 million during the quarter, compared to the consensus estimate of $225.43 million. Texas Capital Bancshares had a net margin of 22.07% and a return on equity of 12.00%. During the same period last year, the firm earned $0.80 EPS. equities research analysts predict that Texas Capital Bancshares Inc will post 6.2 earnings per share for the current fiscal year.
In related news, Director Ian J. Turpin sold 1,186 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $89.55, for a total value of $106,206.30. Following the completion of the transaction, the director now directly owns 9,491 shares of the company’s stock, valued at approximately $849,919.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by company insiders.
A number of equities analysts recently weighed in on the stock. ValuEngine upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, May 12th. DA Davidson upped their target price on shares of Texas Capital Bancshares to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Bank of America upped their target price on shares of Texas Capital Bancshares from $110.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods restated a “hold” rating and set a $98.00 target price on shares of Texas Capital Bancshares in a research report on Thursday, January 25th. Finally, Jefferies Group restated a “buy” rating on shares of Texas Capital Bancshares in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus price target of $101.04.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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