Texas Capital Bancshares, Inc. (TCBI) Shares Sold by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan cut its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,000 shares of the bank’s stock after selling 4,130 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Texas Capital Bancshares were worth $1,287,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of TCBI. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Texas Capital Bancshares in the third quarter valued at about $101,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Texas Capital Bancshares by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the bank’s stock valued at $156,000 after purchasing an additional 248 shares during the period. Hilton Capital Management LLC bought a new position in shares of Texas Capital Bancshares in the second quarter valued at about $201,000. Cubist Systematic Strategies LLC bought a new position in shares of Texas Capital Bancshares in the second quarter valued at about $201,000. Finally, Rehmann Capital Advisory Group bought a new position in shares of Texas Capital Bancshares in the third quarter valued at about $201,000.
Shares of Texas Capital Bancshares, Inc. (TCBI) opened at $81.75 on Monday. The stock has a market cap of $4,056.97, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.69 and a beta of 1.67. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.22 and a current ratio of 1.27. Texas Capital Bancshares, Inc. has a one year low of $69.50 and a one year high of $93.35.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, October 18th. The bank reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $204.40 million for the quarter, compared to the consensus estimate of $214.08 million. Texas Capital Bancshares had a net margin of 22.50% and a return on equity of 10.40%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. equities analysts predict that Texas Capital Bancshares, Inc. will post 4.03 EPS for the current fiscal year.
Several brokerages have recently weighed in on TCBI. Royal Bank Of Canada reissued a “buy” rating on shares of Texas Capital Bancshares in a research report on Friday, October 20th. Barclays PLC set a $87.00 price objective on shares of Texas Capital Bancshares and gave the company a “hold” rating in a research report on Friday, October 20th. Zacks Investment Research lowered shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. SunTrust Banks, Inc. reissued a “buy” rating and issued a $90.00 price objective on shares of Texas Capital Bancshares in a research report on Wednesday, October 4th. Finally, Wedbush lowered shares of Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $88.00 to $87.00 in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $91.53.
In other Texas Capital Bancshares news, COO Peter B. Bartholow sold 3,500 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $87.52, for a total transaction of $306,320.00. Following the sale, the chief operating officer now directly owns 34,171 shares in the company, valued at $2,990,645.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.47% of the company’s stock.
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Texas Capital Bancshares Company 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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