Fisher Asset Management LLC Sells 10,540 Shares of Texas Capital Bancshares, Inc. $TCBI

Fisher Asset Management LLC trimmed its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 315,746 shares of the bank’s stock after selling 10,540 shares during the period. Fisher Asset Management LLC’s holdings in Texas Capital Bancshares were worth $26,690,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TCBI. Cullen Frost Bankers Inc. purchased a new position in Texas Capital Bancshares during the third quarter worth $39,000. True Wealth Design LLC lifted its holdings in shares of Texas Capital Bancshares by 106.8% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the bank’s stock worth $54,000 after acquiring an additional 332 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Texas Capital Bancshares by 452.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 746 shares of the bank’s stock worth $59,000 after purchasing an additional 611 shares during the period. Quent Capital LLC bought a new position in Texas Capital Bancshares during the 3rd quarter valued at about $60,000. Finally, GAMMA Investing LLC raised its position in Texas Capital Bancshares by 10.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $113,000 after purchasing an additional 121 shares during the period. Institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Trading Down 0.9%

TCBI opened at $95.53 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 0.47 and a beta of 0.66. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $108.92. The stock has a fifty day moving average price of $98.76 and a 200-day moving average price of $91.11.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.30. The company had revenue of $327.48 million during the quarter, compared to the consensus estimate 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 period last year, the firm earned $1.43 earnings per share. As a group, equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $22.14 per share, for a total transaction of $442,800.00. Following the completion of the purchase, the director directly owned 335,913 shares of the company’s stock, valued at $7,437,113.82. The trade was a 6.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Laura L. Whitley purchased 500 shares of the business’s stock in a transaction on Monday, January 26th. The shares were bought at an average cost of $97.51 per share, for a total transaction of $48,755.00. Following the completion of the transaction, the director directly owned 7,961 shares in the company, valued at $776,277.11. This trade represents a 6.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 23,000 shares of company stock worth $582,155. 1.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TCBI has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the company a “sector perform” rating in a research report on Friday, January 23rd. Hovde Group boosted their price objective on Texas Capital Bancshares from $93.00 to $102.00 and gave the company a “market perform” rating in a report on Tuesday, January 27th. Citigroup upped their price objective on Texas Capital Bancshares from $75.00 to $88.00 and gave the company a “sell” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. lifted their target price on Texas Capital Bancshares from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 16th. Finally, Piper Sandler upped their price target on shares of Texas Capital Bancshares from $86.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus price target of $101.17.

Texas Capital Bancshares Company Profile

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.