Geode Capital Management LLC Sells 6,111 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Geode Capital Management LLC lowered its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,139,160 shares of the bank’s stock after selling 6,111 shares during the period. Geode Capital Management LLC’s holdings in Texas Capital Bancshares were worth $89,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in TCBI. Picton Mahoney Asset Management purchased a new position in Texas Capital Bancshares in the fourth quarter valued at approximately $30,000. Assetmark Inc. bought a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at $32,000. Venturi Wealth Management LLC purchased a new position in shares of Texas Capital Bancshares during the 4th quarter valued at $37,000. R Squared Ltd purchased a new stake in Texas Capital Bancshares in the 4th quarter worth about $41,000. Finally, KBC Group NV raised its stake in Texas Capital Bancshares by 64.2% in the 4th quarter. KBC Group NV now owns 2,172 shares of the bank’s stock valued at $170,000 after acquiring an additional 849 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in 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. JPMorgan Chase & Co. reduced their price objective on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Stephens dropped their target price on 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. Hovde Group reduced their price target on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, March 7th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $95.00 price objective (down from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus price target of $80.36.

Texas Capital Bancshares Trading Down 7.5 %

Shares of Texas Capital Bancshares stock opened at $61.24 on Friday. The company has a 50 day simple moving average of $75.42 and a two-hundred day simple moving average of $78.31. The firm has a market cap of $2.82 billion, a PE ratio of 47.84, a PEG ratio of 0.75 and a beta of 0.74. Texas Capital Bancshares, Inc. has a 1 year low of $54.68 and a 1 year high of $91.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert W. Stallings bought 2,006 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was bought at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the transaction, the director now directly owns 182,899 shares of the company’s stock, valued at $3,839,050.01. This represents a 1.11 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have bought 29,402 shares of company stock worth $653,787. 1.72% of the stock is currently owned by 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.