Texas Capital Bancshares, Inc. $TCBI Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC trimmed its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 228,712 shares of the bank’s stock after selling 6,643 shares during the quarter. GW&K Investment Management LLC owned approximately 0.50% of Texas Capital Bancshares worth $19,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in shares of Texas Capital Bancshares by 7.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,534,446 shares of the bank’s stock worth $121,636,000 after purchasing an additional 101,675 shares during the last quarter. Azora Capital LP lifted its stake in shares of Texas Capital Bancshares by 141.3% during the second quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock valued at $73,843,000 after buying an additional 544,590 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Texas Capital Bancshares by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 829,325 shares of the bank’s stock worth $70,103,000 after acquiring an additional 3,522 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Texas Capital Bancshares by 12.3% during the second quarter. Bank of New York Mellon Corp now owns 657,626 shares of the bank’s stock worth $52,216,000 after acquiring an additional 71,774 shares during the last quarter. Finally, Norges Bank purchased a new stake in Texas Capital Bancshares in the 2nd quarter worth approximately $45,364,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Laura L. Whitley purchased 500 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was acquired at an average cost of $97.51 per share, with a total value of $48,755.00. Following the acquisition, the director owned 7,961 shares in the company, valued at approximately $776,277.11. This trade represents a 6.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert W. Stallings purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average cost of $22.14 per share, for a total transaction of $442,800.00. Following the purchase, the director directly owned 335,913 shares in the company, valued at $7,437,113.82. This trade represents a 6.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 23,000 shares of company stock valued at $582,155 over the last 90 days. Insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TCBI has been the topic of a number of recent analyst reports. Hovde Group increased their price target on Texas Capital Bancshares from $93.00 to $102.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada raised their price target on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Friday, January 23rd. Piper Sandler lifted their price target on Texas Capital Bancshares from $86.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Citigroup increased their price objective on shares of Texas Capital Bancshares from $75.00 to $88.00 and gave the stock a “sell” rating in a report on Monday, January 26th. Finally, Barclays raised their target price on shares of Texas Capital Bancshares from $90.00 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $101.17.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI opened at $95.18 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $108.92. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.46 and a beta of 0.66. The business has a 50-day moving average of $98.84 and a 200-day moving average of $91.18.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.30. Texas Capital Bancshares had a return on equity of 10.05% and a net margin of 16.52%.The firm had revenue of $327.48 million during the quarter, compared to analysts’ expectations of $324.09 million. During the same quarter in the prior year, the business earned $1.43 EPS. On average, equities analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.