Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.2% during the third quarter, HoldingsChannel reports. The fund owned 176,331 shares of the bank’s stock after selling 361 shares during the period. Franklin Resources Inc.’s holdings in Texas Capital Bancshares were worth $13,593,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in shares of Texas Capital Bancshares by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock valued at $81,856,000 after purchasing an additional 13,022 shares during the last quarter. Wellington Management Group LLP lifted its position in Texas Capital Bancshares by 15.4% in the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after buying an additional 150,301 shares during the last quarter. AQR Capital Management LLC boosted its stake in Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after buying an additional 506,094 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Texas Capital Bancshares by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock valued at $40,792,000 after acquiring an additional 10,171 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Texas Capital Bancshares by 43.8% in the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after acquiring an additional 171,263 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on TCBI shares. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their target price for the company from $51.00 to $77.00 in a report on Monday, September 9th. Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $77.00 to $82.00 in a research note on Friday, October 18th. Truist Financial lifted their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Barclays increased their price target on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Finally, Hovde Group lifted their price objective on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of “Hold” and a consensus target price of $74.69.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $76.77 on Friday. The firm has a market capitalization of $3.55 billion, a PE ratio of 426.50, a price-to-earnings-growth ratio of 0.80 and a beta of 1.14. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. The business’s fifty day moving average price is $83.08 and its 200 day moving average price is $70.93. Texas Capital Bancshares, Inc. has a 12 month low of $54.68 and a 12 month high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.65. The business had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. On average, sell-side analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert W. Stallings acquired 20,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were bought at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the acquisition, the director now owns 84,587 shares in the company, valued at $1,800,011.36. This trade represents a 30.97 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.53% of the stock is owned by corporate insiders.

Texas Capital Bancshares Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.