Jacobs Levy Equity Management Inc. Decreases Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Jacobs Levy Equity Management Inc. lessened its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 500,640 shares of the bank’s stock after selling 71,348 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Texas Capital Bancshares were worth $30,814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CWM LLC raised its stake in shares of Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Texas Capital Bancshares in the 1st quarter worth about $50,000. Fidelis Capital Partners LLC bought a new stake in Texas Capital Bancshares during the 1st quarter valued at approximately $54,000. Headlands Technologies LLC boosted its position in shares of Texas Capital Bancshares by 41.9% during the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after purchasing an additional 476 shares in the last quarter. Finally, Keener Financial Planning LLC bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at $139,000. Institutional investors own 96.88% of the company’s stock.

Insider Activity

In other news, Director Robert W. Stallings bought 3,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were bought at an average price of $19.50 per share, for a total transaction of $58,500.00. Following the purchase, the director now owns 156,706 shares in the company, valued at $3,055,767. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 6,000 shares of the stock in a transaction dated Monday, May 20th. The shares were acquired at an average cost of $19.52 per share, for a total transaction of $117,120.00. Following the completion of the transaction, the director now directly owns 163,706 shares of the company’s stock, valued at $3,195,541.12. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert W. Stallings bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $19.50 per share, with a total value of $58,500.00. Following the transaction, the director now directly owns 156,706 shares of the company’s stock, valued at approximately $3,055,767. The disclosure for this purchase can be found here. Insiders have purchased a total of 19,504 shares of company stock valued at $385,658 in the last ninety days. Corporate insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Stock Performance

TCBI stock traded up $1.26 during midday trading on Tuesday, reaching $67.05. 465,126 shares of the company’s stock traded hands, compared to its average volume of 429,877. The stock’s 50-day moving average is $61.14 and its 200 day moving average is $60.31. The stock has a market cap of $3.10 billion, a P/E ratio of 20.32, a PEG ratio of 1.80 and a beta of 1.15. Texas Capital Bancshares, Inc. has a 52-week low of $52.89 and a 52-week high of $72.07. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The company had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same period in the prior year, the business posted $1.33 earnings per share. As a group, analysts anticipate that Texas Capital Bancshares, Inc. will post 3.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Hovde Group dropped their price objective on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a research note on Friday, April 19th. Truist Financial raised their price objective on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Citigroup reiterated a “sell” rating and set a $60.00 price objective on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Mizuho reaffirmed a “hold” rating and issued a $66.00 price target (down previously from $72.00) on shares of Texas Capital Bancshares in a research report on Monday, April 1st. Finally, Wedbush raised their price objective on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $65.19.

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.