Jacobs Levy Equity Management Inc. Reduces Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Jacobs Levy Equity Management Inc. lowered its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 500,640 shares of the bank’s stock after selling 71,348 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.07% of Texas Capital Bancshares worth $30,814,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in Texas Capital Bancshares by 80.4% in the fourth quarter. Pacer Advisors Inc. now owns 7,214 shares of the bank’s stock worth $466,000 after purchasing an additional 3,216 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in Texas Capital Bancshares during the 4th quarter valued at about $775,000. Keener Financial Planning LLC purchased a new stake in Texas Capital Bancshares in the 4th quarter valued at about $139,000. Louisiana State Employees Retirement System bought a new position in Texas Capital Bancshares in the 4th quarter worth about $873,000. Finally, Phocas Financial Corp. increased its position in shares of Texas Capital Bancshares by 1.8% during the fourth quarter. Phocas Financial Corp. now owns 130,329 shares of the bank’s stock worth $8,423,000 after acquiring an additional 2,317 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Stock Up 1.9 %

Shares of TCBI traded up $1.26 during mid-day trading on Tuesday, hitting $67.05. 465,126 shares of the company traded hands, compared to its average volume of 429,877. The company has a market capitalization of $3.10 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 1.80 and a beta of 1.15. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average of $61.14 and a 200 day moving average of $60.31. Texas Capital Bancshares, Inc. has a 1-year low of $52.89 and a 1-year high of $72.07.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The company had revenue of $472.49 million for the quarter, compared to analyst estimates of $268.02 million. During the same quarter in the previous year, the company posted $1.33 EPS. Equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 3.32 EPS for the current year.

Insider Buying and Selling

In other news, Director Robert W. Stallings purchased 3,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were acquired at an average price of $19.36 per share, for a total transaction of $58,080.00. Following the purchase, the director now owns 169,706 shares in the company, valued at $3,285,508.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 4,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, July 25th. The stock was purchased at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the acquisition, the director now directly owns 12,794 shares in the company, valued at approximately $263,812.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Stallings bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average price of $19.36 per share, with a total value of $58,080.00. Following the completion of the transaction, the director now directly owns 169,706 shares of the company’s stock, valued at $3,285,508.16. The disclosure for this purchase can be found here. Insiders bought 19,504 shares of company stock worth $385,658 in the last 90 days. Insiders own 0.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wedbush boosted their price target on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Raymond James downgraded Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on shares of Texas Capital Bancshares from $63.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Hovde Group cut their target price on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a research report on Friday, April 19th. Finally, Royal Bank of Canada lowered their price target on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 9th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $65.19.

Texas Capital Bancshares 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.