Rafferty Asset Management LLC Sells 20,709 Shares of Texas Capital Bancshares, Inc. $TCBI

Rafferty Asset Management LLC lessened its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 23.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,466 shares of the bank’s stock after selling 20,709 shares during the quarter. Rafferty Asset Management LLC’s holdings in Texas Capital Bancshares were worth $5,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TCBI. Nuveen LLC bought a new position in shares of Texas Capital Bancshares during the 1st quarter worth approximately $25,808,000. Azora Capital LP bought a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $25,232,000. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of Texas Capital Bancshares by 2,249.3% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank’s stock worth $18,630,000 after buying an additional 238,785 shares during the period. SG Americas Securities LLC bought a new position in shares of Texas Capital Bancshares during the 1st quarter worth approximately $16,938,000. Finally, MetLife Investment Management LLC raised its position in Texas Capital Bancshares by 339.3% in the 1st quarter. MetLife Investment Management LLC now owns 234,240 shares of the bank’s stock valued at $17,498,000 after purchasing an additional 180,914 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Wall Street Analysts Forecast Growth

TCBI has been the subject of several research analyst reports. Wall Street Zen upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. Hovde Group lifted their price objective on Texas Capital Bancshares from $75.00 to $95.00 and gave the company a “market perform” rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods lifted their price objective on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the company a “hold” rating in a research report on Wednesday, May 21st. Finally, Citigroup lifted their price objective on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a research report on Friday, July 18th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $83.50.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 10,500 shares of the stock in a transaction dated Wednesday, June 11th. The stock was bought at an average cost of $20.28 per share, with a total value of $212,940.00. Following the purchase, the director owned 60,000 shares of the company’s stock, valued at approximately $1,216,800. This represents a 21.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Stock Down 0.6%

NASDAQ TCBI opened at $86.63 on Friday. The stock has a fifty day moving average of $84.05 and a 200-day moving average of $76.84. The stock has a market capitalization of $3.96 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 0.73 and a beta of 0.65. Texas Capital Bancshares, Inc. has a 52 week low of $59.37 and a 52 week high of $94.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate of $1.28 by $0.35. The company had revenue of $307.46 million during the quarter, compared to analysts’ expectations of $298.90 million. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.During the same period last year, the firm earned $0.80 EPS. On average, equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

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.