Loomis Sayles & Co. L P trimmed its position in shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 183,902 shares of the bank’s stock after selling 8,668 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.37% of Texas Capital Bancshares worth $15,200,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of TCBI. Point72 Asset Management L.P. purchased a new stake in Texas Capital Bancshares during the second quarter worth $119,000. FMR LLC purchased a new stake in Texas Capital Bancshares during the third quarter worth $129,000. Tower Research Capital LLC TRC boosted its position in Texas Capital Bancshares by 196.5% during the third quarter. Tower Research Capital LLC TRC now owns 2,013 shares of the bank’s stock worth $166,000 after purchasing an additional 1,334 shares in the last quarter. Cerebellum GP LLC purchased a new stake in Texas Capital Bancshares during the third quarter worth $172,000. Finally, GFS Advisors LLC purchased a new stake in Texas Capital Bancshares during the third quarter worth $215,000.
In related news, insider Vince A. Ackerson purchased 2,000 shares of the business’s stock in a transaction dated Friday, October 19th. The stock was bought at an average cost of $67.00 per share, with a total value of $134,000.00. Following the completion of the acquisition, the insider now directly owns 28,485 shares in the company, valued at approximately $1,908,495. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO C Keith Cargill purchased 3,000 shares of the business’s stock in a transaction dated Friday, October 19th. The stock was bought at an average cost of $67.59 per share, with a total value of $202,770.00. Following the completion of the acquisition, the chief executive officer now owns 90,880 shares of the company’s stock, valued at $6,142,579.20. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.
A number of analysts have commented on TCBI shares. Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Monday, September 3rd. SunTrust Banks boosted their target price on Texas Capital Bancshares to $90.00 and gave the stock a “buy” rating in a research report on Thursday, October 18th. Wedbush set a $94.00 target price on Texas Capital Bancshares and gave the stock a “buy” rating in a research report on Thursday, October 18th. Compass Point upgraded Texas Capital Bancshares from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $103.00 to $84.00 in a research report on Tuesday, October 23rd. Finally, TheStreet downgraded Texas Capital Bancshares from a “b-” rating to a “c+” rating in a research report on Tuesday, November 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $96.24.
NASDAQ TCBI opened at $55.47 on Friday. Texas Capital Bancshares Inc has a fifty-two week low of $53.96 and a fifty-two week high of $103.05. The firm has a market capitalization of $2.80 billion, a PE ratio of 9.97, a P/E/G ratio of 0.90 and a beta of 1.82. The company has a quick ratio of 1.21, a current ratio of 1.29 and a debt-to-equity ratio of 1.58.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $1.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($0.07). Texas Capital Bancshares had a return on equity of 13.36% and a net margin of 23.10%. The company had revenue of $257.69 million during the quarter, compared to analyst estimates of $257.14 million. During the same period last year, the firm earned $1.12 earnings per share. As a group, research analysts predict that Texas Capital Bancshares Inc will post 6.01 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This piece was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/12/08/texas-capital-bancshares-inc-tcbi-shares-sold-by-loomis-sayles-co-l-p.html.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
Featured Story: How to invest in a bear market
Want to see what other hedge funds are holding TCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Capital Bancshares Inc (NASDAQ:TCBI).
Receive News & Ratings for Texas Capital Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Capital Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.