Phocas Financial Corp. Sells 99,788 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Phocas Financial Corp. lowered its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 85.0% in the fourth quarter, HoldingsChannel reports. The fund owned 17,572 shares of the bank’s stock after selling 99,788 shares during the period. Texas Capital Bancshares accounts for approximately 1.0% of Phocas Financial Corp.’s investment portfolio, making the stock its 26th largest holding. Phocas Financial Corp.’s holdings in Texas Capital Bancshares were worth $1,374,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Amalgamated Bank raised its holdings 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 purchasing an additional 166 shares during the last quarter. Blue Trust Inc. grew its position in shares of Texas Capital Bancshares by 89.9% during the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after buying an additional 169 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Texas Capital Bancshares by 3.5% during the third quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank’s stock worth $383,000 after buying an additional 180 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in Texas Capital Bancshares by 5.3% in the third quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock valued at $309,000 after buying an additional 217 shares during the period. Finally, Savant Capital LLC boosted its stake in Texas Capital Bancshares by 5.7% in the fourth quarter. Savant Capital LLC now owns 5,604 shares of the bank’s stock valued at $438,000 after acquiring an additional 303 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on 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. Barclays upped their price objective on Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $95.00 price target (down previously from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Finally, Stephens decreased their price objective on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Three equities 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. Based on data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus price target of $79.13.

Texas Capital Bancshares Trading Up 0.3 %

TCBI opened at $78.91 on Wednesday. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 61.65, a P/E/G ratio of 0.75 and a beta of 1.16. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a twelve month low of $54.68 and a twelve month high of $91.80. The company has a 50-day simple moving average of $79.04 and a 200 day simple moving average of $77.04.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly 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 predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 5,670 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average cost of $27.60 per share, for a total transaction of $156,492.00. Following the transaction, the director now directly owns 180,893 shares in the company, valued at $4,992,646.80. This represents a 3.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have acquired 22,402 shares of company stock valued at $510,777. 1.53% of the stock is currently owned by corporate 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.