Teachers Retirement System of The State of Kentucky Sells 8,902 Shares of Texas Capital Bancshares, Inc. $TCBI

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 17.3% during the third quarter, Holdings Channel reports. The institutional investor owned 42,551 shares of the bank’s stock after selling 8,902 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Texas Capital Bancshares were worth $3,597,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Texas Capital Bancshares by 7.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,534,446 shares of the bank’s stock valued at $121,636,000 after acquiring an additional 101,675 shares during the period. Azora Capital LP raised its stake in shares of Texas Capital Bancshares by 141.3% during the second quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock valued at $73,843,000 after acquiring an additional 544,590 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Texas Capital Bancshares by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 829,325 shares of the bank’s stock worth $70,103,000 after purchasing an additional 3,522 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Texas Capital Bancshares by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 657,626 shares of the bank’s stock worth $52,216,000 after purchasing an additional 71,774 shares during the last quarter. Finally, Norges Bank purchased a new position in Texas Capital Bancshares during the 2nd quarter valued at about $45,364,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analysts Set New Price Targets

TCBI has been the topic of a number of recent analyst reports. Hovde Group lifted their price objective on Texas Capital Bancshares from $93.00 to $102.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 27th. DA Davidson lifted their price target on shares of Texas Capital Bancshares from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Texas Capital Bancshares in a report on Wednesday, January 28th. Zacks Research raised shares of Texas Capital Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Texas Capital Bancshares from $92.00 to $105.00 and gave the company an “underweight” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $101.17.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Laura L. Whitley bought 500 shares of the stock in a transaction on Monday, January 26th. The stock was purchased at an average price of $97.51 per share, with a total value of $48,755.00. Following the acquisition, the director owned 7,961 shares of the company’s stock, valued at approximately $776,277.11. The trade was a 6.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert W. Stallings bought 20,000 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were acquired at an average price of $22.14 per share, with a total value of $442,800.00. Following the transaction, the director directly owned 335,913 shares in the company, valued at approximately $7,437,113.82. The trade was a 6.33% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 23,000 shares of company stock valued at $582,155 in the last ninety days. Company insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Price Performance

TCBI opened at $96.08 on Thursday. The stock has a market capitalization of $4.24 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 0.46 and a beta of 0.66. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50 day simple moving average is $98.81 and its 200-day simple moving average is $91.15. Texas Capital Bancshares, Inc. has a one year low of $59.37 and a one year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.30. Texas Capital Bancshares had a return on equity of 10.05% and a net margin of 16.52%.The company had revenue of $327.48 million during the quarter, compared to the consensus estimate of $324.09 million. During the same quarter in the previous year, the company posted $1.43 earnings per share. Sell-side analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.