American International Group Inc. cut its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,153 shares of the bank’s stock after selling 5,069 shares during the quarter. American International Group Inc. owned 0.26% of Texas Capital Bancshares worth $11,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Hodges Capital Management Inc. bought a new stake in Texas Capital Bancshares during the first quarter valued at approximately $200,000. Castleark Management LLC bought a new stake in Texas Capital Bancshares during the fourth quarter valued at approximately $222,000. Legato Capital Management LLC bought a new stake in Texas Capital Bancshares during the fourth quarter valued at approximately $227,000. Zeke Capital Advisors LLC bought a new stake in Texas Capital Bancshares during the fourth quarter valued at approximately $228,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Texas Capital Bancshares by 39.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,809 shares of the bank’s stock valued at $250,000 after purchasing an additional 791 shares during the last quarter.
In other news, Director Ian J. Turpin sold 1,186 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $89.55, for a total value of $106,206.30. Following the completion of the sale, the director now directly owns 9,491 shares in the company, valued at approximately $849,919.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, April 18th. The bank reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.03. The firm had revenue of $230.25 million during the quarter, compared to analyst estimates of $225.43 million. Texas Capital Bancshares had a net margin of 22.07% and a return on equity of 12.00%. During the same period in the previous year, the business posted $0.80 EPS. equities research analysts expect that Texas Capital Bancshares, Inc. will post 6.16 earnings per share for the current year.
TCBI has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 20th. BidaskClub upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research report on Thursday, January 25th. SunTrust Banks dropped their target price on shares of Texas Capital Bancshares to $100.00 in a research report on Thursday, April 19th. Finally, Stephens reiterated a “hold” rating on shares of Texas Capital Bancshares in a research report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $101.04.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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