King Luther Capital Management Corp Sells 8,736 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

King Luther Capital Management Corp lowered its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 15.2% during the fourth quarter, Holdings Channel reports. The firm owned 48,705 shares of the bank’s stock after selling 8,736 shares during the period. King Luther Capital Management Corp’s holdings in Texas Capital Bancshares were worth $3,809,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Icon Wealth Advisors LLC bought a new position in shares of Texas Capital Bancshares in the third quarter worth $31,000. Assetmark Inc. bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth $32,000. Venturi Wealth Management LLC bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth $37,000. R Squared Ltd bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth $41,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Texas Capital Bancshares in the third quarter worth $71,000. Institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $72.16 on Thursday. The business’s 50-day moving average price is $78.45 and its 200-day moving average price is $77.95. Texas Capital Bancshares, Inc. has a 12 month low of $54.68 and a 12 month high of $91.80. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 56.38, a PEG ratio of 0.75 and a beta of 1.13. 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 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. Equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Analyst Upgrades and Downgrades

TCBI has been the topic of a number of recent analyst reports. Hovde Group decreased their price target on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. reduced their price objective on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 price objective (down from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. Finally, Stephens reduced their price objective on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $79.47.

Insider Buying and Selling

In related news, Director Robert W. Stallings acquired 2,006 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average cost of $20.99 per share, with a total value of $42,105.94. Following the completion of the purchase, the director now directly owns 182,899 shares in the company, valued at $3,839,050.01. The trade was a 1.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders have purchased a total of 29,402 shares of company stock valued at $653,787 over the last ninety days. 0.99% of the stock is owned by company insiders.

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.