Hennessy Advisors Inc. Decreases Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Hennessy Advisors Inc. lessened its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 50.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,000 shares of the bank’s stock after selling 10,000 shares during the period. Hennessy Advisors Inc.’s holdings in Texas Capital Bancshares were worth $782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of TCBI. Algert Global LLC boosted its holdings in Texas Capital Bancshares by 367.3% in the 3rd quarter. Algert Global LLC now owns 22,316 shares of the bank’s stock worth $1,595,000 after buying an additional 17,540 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after acquiring an additional 506,094 shares during the period. Jane Street Group LLC grew its position in shares of Texas Capital Bancshares by 107.2% in the third quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock valued at $9,481,000 after purchasing an additional 68,632 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Texas Capital Bancshares during the 3rd quarter valued at $740,000. Finally, Sei Investments Co. raised its stake in shares of Texas Capital Bancshares by 8.5% during the 2nd quarter. Sei Investments Co. now owns 152,887 shares of the bank’s stock valued at $9,347,000 after purchasing an additional 12,041 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Trading Up 2.3 %

Texas Capital Bancshares stock opened at $80.74 on Friday. Texas Capital Bancshares, Inc. has a one year low of $54.68 and a one year high of $91.80. The business’s fifty day moving average is $82.65 and its 200 day moving average is $73.77. The stock has a market capitalization of $3.73 billion, a PE ratio of 448.56, a price-to-earnings-growth ratio of 0.66 and a beta of 1.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping the consensus estimate of $0.97 by $0.65. The firm had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. On average, sell-side analysts predict that Texas Capital Bancshares, Inc. will post 4.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Hovde Group lifted their target price on Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lowered their target price on shares of Texas Capital Bancshares from $86.00 to $81.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Truist Financial raised their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a report on Monday, October 21st. DA Davidson upped their price target on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.75.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average cost of $21.28 per share, with a total value of $425,600.00. Following the completion of the purchase, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.53% of the company’s stock.

About Texas Capital Bancshares

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.