Sapience Investments LLC lowered its position in Texas Capital Bancshares Inc (NASDAQ:TCBI) by 34.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 129,100 shares of the bank’s stock after selling 67,220 shares during the period. Texas Capital Bancshares makes up approximately 1.6% of Sapience Investments LLC’s investment portfolio, making the stock its 27th largest holding. Sapience Investments LLC owned 0.26% of Texas Capital Bancshares worth $11,477,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crossmark Global Holdings Inc. purchased a new stake in Texas Capital Bancshares in the third quarter valued at approximately $402,000. Bank of New York Mellon Corp boosted its position in Texas Capital Bancshares by 22.1% in the third quarter. Bank of New York Mellon Corp now owns 1,149,203 shares of the bank’s stock valued at $98,602,000 after buying an additional 208,235 shares during the last quarter. New York State Common Retirement Fund boosted its position in Texas Capital Bancshares by 7.3% in the third quarter. New York State Common Retirement Fund now owns 199,906 shares of the bank’s stock valued at $17,152,000 after buying an additional 13,535 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Texas Capital Bancshares by 39.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,809 shares of the bank’s stock valued at $250,000 after buying an additional 791 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Texas Capital Bancshares by 200.0% in the third quarter. Canada Pension Plan Investment Board now owns 4,500 shares of the bank’s stock valued at $386,000 after buying an additional 3,000 shares during the last quarter.
In other Texas Capital Bancshares news, CEO C Keith Cargill bought 2,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average cost of $90.60 per share, with a total value of $181,200.00. Following the purchase, the chief executive officer now directly owns 82,286 shares in the company, valued at approximately $7,455,111.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Ian J. Turpin sold 1,186 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $89.55, for a total value of $106,206.30. Following the completion of the transaction, the director now directly owns 9,491 shares of the company’s stock, valued at $849,919.05. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, January 24th. The bank reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.03. The business had revenue of $230.02 million during the quarter, compared to the consensus estimate of $219.78 million. Texas Capital Bancshares had a return on equity of 10.85% and a net margin of 20.67%. During the same period in the prior year, the company posted $0.96 EPS. research analysts anticipate that Texas Capital Bancshares Inc will post 6.07 earnings per share for the current year.
A number of brokerages recently commented on TCBI. Stephens reiterated a “hold” rating on shares of Texas Capital Bancshares in a research report on Tuesday, March 6th. Zacks Investment Research lowered Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 20th. BidaskClub lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Barclays restated a “neutral” rating and issued a $104.00 price objective (up previously from $90.00) on shares of Texas Capital Bancshares in a research report on Friday, January 26th. Finally, DA Davidson upped their price objective on Texas Capital Bancshares to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $98.75.
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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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