ArrowMark Colorado Holdings LLC Sells 24,000 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

ArrowMark Colorado Holdings LLC decreased its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 136,000 shares of the bank’s stock after selling 24,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.29% of Texas Capital Bancshares worth $9,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Hawaiian Bank bought a new position in shares of Texas Capital Bancshares in the second quarter valued at about $675,000. AQR Capital Management LLC lifted its position in shares of 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 purchasing an additional 506,094 shares in the last quarter. Algert Global LLC lifted its position in shares of Texas Capital Bancshares by 367.3% during the third quarter. Algert Global LLC now owns 22,316 shares of the bank’s stock worth $1,595,000 after purchasing an additional 17,540 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Texas Capital Bancshares by 26.6% during the second quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock valued at $2,096,000 after purchasing an additional 7,200 shares during the last quarter. Finally, Hodges Capital Management Inc. increased its holdings in shares of Texas Capital Bancshares by 22.0% in the second quarter. Hodges Capital Management Inc. now owns 179,098 shares of the bank’s stock valued at $10,950,000 after purchasing an additional 32,248 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock opened at $88.64 on Tuesday. The stock’s fifty day simple moving average is $79.30 and its 200 day simple moving average is $68.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $4.10 billion, a PE ratio of 492.44, a PEG ratio of 0.84 and a beta of 1.14. 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 released its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The company had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. On average, research analysts predict that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TCBI shares. Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target on the stock in a report on Tuesday, September 17th. Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $77.00 to $82.00 in a report on Friday, October 18th. Barclays raised their target price on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Finally, StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $74.00.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 20,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were purchased at an average price of $21.28 per share, with a total value of $425,600.00. Following the purchase, the director now directly owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This trade represents a 30.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.53% of the company’s stock.

About Texas Capital Bancshares

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.