State Board of Administration of Florida Retirement System lowered its position in Texas Capital Bancshares Inc (NASDAQ:TCBI) by 1.1% during the first quarter, Holdings Channel reports. The firm owned 25,099 shares of the bank’s stock after selling 280 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Texas Capital Bancshares were worth $2,095,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TCBI. Waratah Capital Advisors Ltd. acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter worth $1,478,000. Federated Investors Inc. PA acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter worth $128,000. Nicholas Investment Partners LP acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter worth $4,430,000. Spindletop Capital LLC boosted its stake in shares of Texas Capital Bancshares by 3.5% in the fourth quarter. Spindletop Capital LLC now owns 235,000 shares of the bank’s stock worth $18,424,000 after buying an additional 8,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Texas Capital Bancshares by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,541,618 shares of the bank’s stock worth $120,864,000 after buying an additional 74,051 shares during the period. 95.46% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Texas Capital Bancshares (NASDAQ:TCBI)

Texas Capital Bancshares Inc (NASDAQ TCBI) opened at 75.40 on Friday. Texas Capital Bancshares Inc has a 52-week low of $41.47 and a 52-week high of $93.35. The stock’s 50 day moving average is $76.44 and its 200 day moving average is $79.94. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 22.09 and a beta of 1.41.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, April 19th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by $0.08. The business had revenue of $180.47 million for the quarter, compared to analyst estimates of $192.60 million. Texas Capital Bancshares had a return on equity of 9.94% and a net margin of 19.98%. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, analysts predict that Texas Capital Bancshares Inc will post $3.85 earnings per share for the current fiscal year.

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A number of analysts have weighed in on the stock. Raymond James Financial, Inc. reissued an “outperform” rating and set a $98.00 target price (up from $95.00) on shares of Texas Capital Bancshares in a report on Thursday, March 16th. Jefferies Group LLC reissued a “buy” rating and set a $102.00 target price on shares of Texas Capital Bancshares in a report on Tuesday, March 21st. JMP Securities assumed coverage on shares of Texas Capital Bancshares in a report on Thursday, February 2nd. They set an “outperform” rating and a $98.00 target price on the stock. Keefe, Bruyette & Woods set a $83.00 target price on shares of Texas Capital Bancshares and gave the stock a “hold” rating in a report on Monday, April 3rd. Finally, Stephens reissued a “hold” rating on shares of Texas Capital Bancshares in a report on Thursday, April 20th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Texas Capital Bancshares presently has an average rating of “Hold” and a consensus price target of $81.00.

In other Texas Capital Bancshares news, Director Ian J. Turpin sold 2,507 shares of the company’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $73.59, for a total value of $184,490.13. Following the transaction, the director now directly owns 9,991 shares of the company’s stock, valued at approximately $735,237.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider C Keith Cargill acquired 5,000 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was purchased at an average cost of $73.57 per share, for a total transaction of $367,850.00. Following the completion of the acquisition, the insider now owns 77,286 shares in the company, valued at $5,685,931.02. The disclosure for this purchase can be found here. Corporate insiders own 1.08% of the company’s stock.

About Texas Capital Bancshares

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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