Hennessy Advisors Inc. Trims Holdings in Texas Capital Bancshares, Inc. (TCBI)
Hennessy Advisors Inc. trimmed its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 42.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the bank’s stock after selling 15,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Texas Capital Bancshares were worth $1,548,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Exane Derivatives bought a new stake in Texas Capital Bancshares during the 2nd quarter worth approximately $125,000. Canada Pension Plan Investment Board boosted its stake in shares of Texas Capital Bancshares by 88.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock valued at $142,000 after purchasing an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Texas Capital Bancshares by 46.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,770 shares of the bank’s stock valued at $148,000 after purchasing an additional 563 shares during the last quarter. Parkwood LLC bought a new stake in shares of Texas Capital Bancshares in the 1st quarter valued at $211,000. Finally, Hilton Capital Management LLC bought a new stake in shares of Texas Capital Bancshares in the 2nd quarter valued at $201,000.
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Texas Capital Bancshares, Inc. (TCBI) opened at 70.95 on Monday. Texas Capital Bancshares, Inc. has a 52-week low of $50.66 and a 52-week high of $93.35. The company’s 50 day moving average is $75.89 and its 200-day moving average is $78.73. The firm has a market cap of $3.52 billion, a P/E ratio of 19.69 and a beta of 1.67.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $201.73 million for the quarter, compared to analysts’ expectations of $197.10 million. Texas Capital Bancshares had a net margin of 21.84% and a return on equity of 10.01%. During the same quarter in the previous year, the business posted $0.78 earnings per share. On average, equities analysts predict that Texas Capital Bancshares, Inc. will post $4.01 EPS for the current fiscal year.
A number of equities research analysts have recently commented on TCBI shares. Wedbush raised shares of Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $79.00 to $86.00 in a research note on Monday, May 15th. BidaskClub raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $104.00 price objective on shares of Texas Capital Bancshares in a research note on Friday, July 14th. Barclays PLC reaffirmed an “equal weight” rating and issued a $80.00 price objective (up from $75.00) on shares of Texas Capital Bancshares in a research note on Wednesday, July 12th. Finally, ValuEngine raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $86.86.
In related news, insider C Keith Cargill purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $74.15 per share, for a total transaction of $222,450.00. Following the completion of the acquisition, the insider now directly owns 80,286 shares in the company, valued at approximately $5,953,206.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company’s stock.
Texas Capital Bancshares Profile
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 loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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