Toronto Dominion Bank sells 5,439 shares of Texas Capital Bancshares, Inc. (NASDAQ: TCBI)
The Toronto Dominion Bank reduced its holdings of shares in Texas Capital Bancshares, Inc. (NASDAQ: TCBI – Get a rating) by 14.5% in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund held 32,100 shares of the bank after selling 5,439 shares during the quarter. The Toronto Dominion Bank held approximately 0.06% of Texas Capital Banc shares worth $1,840,000 at the end of the last quarter.
Several other hedge funds and other institutional investors have also recently changed their stakes in TCBI. Exane Derivatives bought a new position in shares of Texas Capital Bancshares during Q1 valued at around $108,000. Carl Stuart Investment Advisor Inc. bought a new stock position in Texas Capital Bancshares during the first quarter worth approximately $115,000. Profund Advisors LLC increased its holdings of Texas Capital Bancshares shares by 5.2% in the fourth quarter. Profund Advisors LLC now owns 3,934 shares of the bank worth $237,000 after acquiring 196 additional shares in the last quarter. Inspire Investing LLC bought a new equity stake from Texas Capital Bancshares in Q1 for $237,000. Finally, Verdence Capital Advisors LLC increased its stake in shares of Texas Capital Bancshares by 17.3% during the 1st quarter. Verdence Capital Advisors LLC now owns 4,637 shares of the bank valued at $266,000 after buying 683 additional shares in the last quarter. Hedge funds and other institutional investors own 97.77% of the company’s shares.
Analysts set new price targets
A number of research analysts have recently released reports on TCBI shares. Raymond James upgraded Texas Capital Bancshares from an ‘outperform’ rating to a ‘strong buy’ rating and set a $70.00 price target on the stock in a Thursday, July 7 research note . Jefferies Financial Group raised its price target on Texas Capital Bancshares from $51.00 to $52.00 in a Monday July 11 research note. Stephens raised his price target on Texas Capital Bancshares to $66.00 in a Friday, July 22 research note. Truist Financial cut its price target on shares of Texas Capital Bancshares from $69.00 to $65.00 and set a “buy” rating on the stock in a Wednesday, June 15 report. Finally, TheStreet downgraded shares of Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 report. One stock research analyst gave the stock a sell rating, four gave the stock a hold rating, one gave the stock a buy rating and one gave the stock a high buy rating. society. According to MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus target price of $63.67.
In other news, Director Robert W. Stallings acquired 2,275 shares in a transaction on Tuesday, August 2. The shares were acquired at an average price of $58.84 per share, with a total value of $133,861.00. Following completion of the transaction, the director now owns 138,000 shares of the company, valued at approximately $8,119,920. The purchase was disclosed in a document filed with the SEC, accessible via this link. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 2,000 shares in a trade dated Wednesday, July 27. The shares were purchased at an average cost of $56.82 per share, for a total transaction of $113,640.00. Following the completion of the acquisition, the director now owns 132,725 shares of the company, valued at $7,541,434.50. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, director Robert W. Stallings purchased 2,275 shares of the company in a transaction dated Tuesday, August 2. The stock was purchased at an average price of $58.84 per share, for a total transaction of $133,861.00. Following the completion of the purchase, the director now owns 138,000 shares of the company, valued at approximately $8,119,920. Disclosure of this purchase can be found here. Insiders purchased a total of 51,705 shares of the company worth $2,813,783 during the last quarter. 0.56% of the shares are held by insiders of the company.
Texas Capital Bancshares Stock down 0.7%
Shares of NASDAQTCBI opened at $64.70 on Thursday. The company has a fifty-day simple moving average of $55.70 and a two-hundred-day simple moving average of $57.76. The company has a market capitalization of $3.23 billion, a PE ratio of 20.03, a growth price-earnings ratio of 2.34 and a beta of 1.53. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt ratio of 0.34. Texas Capital Bancshares, Inc. has a 12-month low of $48.79 and a 12-month high of $71.60.
Texas Capital Bancshares (NASDAQ: TCBI – Get a rating) last released its quarterly results on Thursday, July 21. The bank reported earnings per share (EPS) of $0.59 for the quarter, missing analyst consensus estimates of $0.74 per ($0.15). Texas Capital Bancshares had a return on equity of 6.48% and a net margin of 18.42%. In the same quarter of the previous year, the company had earned earnings per share of $1.31. Stock analysts expect Texas Capital Bancshares, Inc. to post earnings per share of 3.43 for the current year.
Profile of Texas Capital Bancshares
Texas Capital Bancshares, Inc. operates as a bank holding company for Texas Capital Bank, is a full-service financial services company that provides customized solutions to businesses, entrepreneurs and individuals. The Company offers commercial banking, retail banking, investment banking and wealth management.
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