MetLife Investment Management LLC Sells 763 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

MetLife Investment Management LLC reduced its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 1.5% in the third quarter, HoldingsChannel.com reports. The fund owned 49,392 shares of the bank’s stock after selling 763 shares during the quarter. MetLife Investment Management LLC’s holdings in Texas Capital Bancshares were worth $3,530,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Texas Capital Bancshares in the 3rd quarter worth $1,222,000. Blueshift Asset Management LLC purchased a new position in Texas Capital Bancshares in the 3rd quarter worth $215,000. BNP Paribas Financial Markets raised its position in Texas Capital Bancshares by 141.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 22,321 shares of the bank’s stock worth $1,595,000 after purchasing an additional 13,074 shares during the period. FMR LLC raised its position in Texas Capital Bancshares by 28.9% in the 3rd quarter. FMR LLC now owns 4,167 shares of the bank’s stock worth $298,000 after purchasing an additional 935 shares during the period. Finally, Advantage Alpha Capital Partners LP increased its position in shares of Texas Capital Bancshares by 24.8% in the third quarter. Advantage Alpha Capital Partners LP now owns 7,346 shares of the bank’s stock valued at $525,000 after acquiring an additional 1,461 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TCBI. Barclays boosted their price objective on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Hovde Group boosted 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 research report on Friday, October 18th. Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Piper Sandler cut shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $77.00 to $82.00 in a research report on Friday, October 18th. Finally, Truist Financial boosted their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given 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 $74.00.

Insider Transactions at Texas Capital Bancshares

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

Texas Capital Bancshares Trading Down 0.7 %

NASDAQ:TCBI opened at $88.05 on Wednesday. Texas Capital Bancshares, Inc. has a one year low of $54.68 and a one year high of $91.80. 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 company’s 50-day simple moving average is $79.64 and its 200 day simple moving average is $68.82. The firm has a market capitalization of $4.07 billion, a P/E ratio of 489.61, a PEG ratio of 0.84 and a beta of 1.14.

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

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.