Alpha Paradigm Partners LLC cut its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) by 49.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,831 shares of the bank’s stock after selling 14,683 shares during the quarter. Alpha Paradigm Partners LLC’s holdings in Texas Capital Bancshares were worth $894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC lifted its position in Texas Capital Bancshares by 4,210.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 431 shares of the bank’s stock valued at $26,000 after purchasing an additional 421 shares in the last quarter. Dark Forest Capital Management LP increased its position in shares of Texas Capital Bancshares by 17.4% during the third quarter. Dark Forest Capital Management LP now owns 1,394 shares of the bank’s stock worth $84,000 after purchasing an additional 207 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of Texas Capital Bancshares by 5.2% during the 4th quarter. Profund Advisors LLC now owns 3,934 shares of the bank’s stock worth $237,000 after acquiring an additional 196 shares in the last quarter. Verdence Capital Advisors LLC purchased a new position in Texas Capital Bancshares in the 4th quarter valued at about $238,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Texas Capital Bancshares in the 3rd quarter valued at about $249,000. Institutional investors and hedge funds own 97.77% of the company’s stock.
In other news, Director Robert W. Stallings purchased 2,000 shares of the stock in a transaction dated Thursday, May 12th. The shares were purchased at an average cost of $50.25 per share, with a total value of $100,500.00. Following the completion of the acquisition, the director now owns 46,810 shares in the company, valued at approximately $2,352,202.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert W. Stallings purchased 8,000 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The stock was acquired at an average cost of $52.65 per share, with a total value of $421,200.00. Following the purchase, the director now directly owns 44,810 shares of the company’s stock, valued at $2,359,246.50. The disclosure for this purchase can be found here. Insiders have bought 18,700 shares of company stock valued at $975,525 over the last 90 days. Insiders own 0.56% of the company’s stock.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last posted its earnings results on Wednesday, April 20th. The bank reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). The business had revenue of $203.83 million during the quarter, compared to the consensus estimate of $213.06 million. Texas Capital Bancshares had a return on equity of 7.80% and a net margin of 22.71%. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 EPS. Analysts forecast that Texas Capital Bancshares, Inc. will post 3.2 earnings per share for the current year.
Several research firms have recently issued reports on TCBI. StockNews.com lowered shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, April 14th. Zacks Investment Research raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday, April 13th. Finally, TheStreet cut Texas Capital Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, April 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average price target of $68.30.
About Texas Capital Bancshares (Get Rating)
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, and wealth management services.
- Get a free copy of the StockNews.com research report on Texas Capital Bancshares (TCBI)
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