North Reef Capital Management LP Sells 1,429,977 Shares of Texas Capital Bancshares, Inc. $TCBI

North Reef Capital Management LP lessened its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 72.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 555,000 shares of the bank’s stock after selling 1,429,977 shares during the quarter. Texas Capital Bancshares makes up about 2.2% of North Reef Capital Management LP’s investment portfolio, making the stock its 13th largest position. North Reef Capital Management LP owned 1.22% of Texas Capital Bancshares worth $46,914,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Norges Bank bought a new stake in Texas Capital Bancshares in the 2nd quarter valued at $45,364,000. Azora Capital LP lifted its holdings in shares of Texas Capital Bancshares by 141.3% during the 2nd quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock worth $73,843,000 after acquiring an additional 544,590 shares during the period. AQR Capital Management LLC boosted its position in shares of Texas Capital Bancshares by 25.1% during the 3rd quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock valued at $162,229,000 after acquiring an additional 384,748 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Texas Capital Bancshares by 2,707.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock valued at $29,496,000 after acquiring an additional 336,506 shares in the last quarter. Finally, Algert Global LLC increased its stake in Texas Capital Bancshares by 731.5% in the third quarter. Algert Global LLC now owns 294,840 shares of the bank’s stock valued at $24,923,000 after acquiring an additional 259,380 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Laura L. Whitley purchased 500 shares of the business’s stock in a transaction on Monday, January 26th. The shares were acquired at an average price of $97.51 per share, with a total value of $48,755.00. Following the completion of the transaction, the director owned 7,961 shares of the company’s stock, valued at $776,277.11. The trade was a 6.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Stallings purchased 20,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were acquired at an average price of $22.69 per share, with a total value of $453,800.00. Following the completion of the acquisition, the director owned 169,587 shares in the company, valued at approximately $3,847,929.03. This trade represents a 13.37% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 49,500 shares of company stock valued at $1,252,855 over the last quarter. Insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $92.03 on Tuesday. The stock has a market capitalization of $4.07 billion, a PE ratio of 13.53, a PEG ratio of 0.45 and a beta of 0.66. The business’s 50 day simple moving average is $98.81 and its 200 day simple moving average is $91.57. 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 one year low of $59.37 and a one year high of $108.92.

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. TD Cowen raised their price target on shares of Texas Capital Bancshares from $103.00 to $110.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. DA Davidson upped their price objective on Texas Capital Bancshares from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Citigroup increased their target price on Texas Capital Bancshares from $75.00 to $88.00 and gave the stock a “sell” rating in a report on Monday, January 26th. Stephens raised their target price on Texas Capital Bancshares from $111.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Finally, Zacks Research raised Texas Capital Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. One investment 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $101.17.

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.