Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Holdings Reduced by Phocas Financial Corp.

Phocas Financial Corp. lessened its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 85.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,572 shares of the bank’s stock after selling 99,788 shares during the period. Texas Capital Bancshares accounts for about 1.0% of Phocas Financial Corp.’s investment portfolio, making the stock its 26th biggest holding. Phocas Financial Corp.’s holdings in Texas Capital Bancshares were worth $1,374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Amalgamated Bank boosted its position in Texas Capital Bancshares by 0.8% during the 4th quarter. Amalgamated Bank now owns 20,791 shares of the bank’s stock worth $1,626,000 after acquiring an additional 166 shares during the period. Wolverine Asset Management LLC grew its position in Texas Capital Bancshares by 28.0% in the 4th quarter. Wolverine Asset Management LLC now owns 52,517 shares of the bank’s stock valued at $4,107,000 after buying an additional 11,479 shares in the last quarter. Ieq Capital LLC bought a new stake in shares of Texas Capital Bancshares during the 4th quarter worth about $397,000. Venturi Wealth Management LLC bought a new position in shares of Texas Capital Bancshares in the fourth quarter valued at approximately $37,000. Finally, Sanctuary Advisors LLC raised its holdings in Texas Capital Bancshares by 60.6% during the fourth quarter. Sanctuary Advisors LLC now owns 6,958 shares of the bank’s stock worth $552,000 after purchasing an additional 2,625 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 7,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was bought at an average cost of $21.32 per share, with a total value of $149,240.00. Following the completion of the acquisition, the director now owns 215,413 shares in the company, valued at $4,592,605.16. The trade was a 3.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have acquired a total of 22,402 shares of company stock valued at $510,777 over the last quarter. 1.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Barclays upped their price objective on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $95.00 price target (down previously from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. DA Davidson decreased their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Finally, Stephens dropped their price target on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $79.13.

Texas Capital Bancshares Price Performance

Shares of TCBI stock opened at $78.91 on Wednesday. Texas Capital Bancshares, Inc. has a 12 month low of $54.68 and a 12 month high of $91.80. The company has a market capitalization of $3.63 billion, a P/E ratio of 61.65, a P/E/G ratio of 0.75 and a beta of 1.16. The stock has a 50 day moving average of $79.04 and a two-hundred day moving average of $77.04. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. As a group, equities analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Texas Capital Bancshares Company 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.