Alliancebernstein L.P. Lowers Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Alliancebernstein L.P. reduced its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,614,589 shares of the bank’s stock after selling 281,358 shares during the period. Alliancebernstein L.P. owned approximately 3.49% of Texas Capital Bancshares worth $126,261,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Texas Capital Bancshares in the 4th quarter valued at approximately $42,050,000. Wellington Management Group LLP raised its stake in shares of Texas Capital Bancshares by 15.4% in the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock worth $80,265,000 after purchasing an additional 150,301 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Texas Capital Bancshares by 75.5% during the fourth quarter. JPMorgan Chase & Co. now owns 317,292 shares of the bank’s stock valued at $24,812,000 after purchasing an additional 136,507 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at $8,080,000. Finally, Prudential Financial Inc. increased its holdings in Texas Capital Bancshares by 104.5% in the 4th quarter. Prudential Financial Inc. now owns 155,135 shares of the bank’s stock worth $12,132,000 after buying an additional 79,290 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Stock Up 0.5 %

TCBI stock opened at $74.71 on Thursday. The business’s 50-day moving average price is $77.68 and its 200-day moving average price is $78.80. The stock has a market cap of $3.45 billion, a P/E ratio of 58.37, a PEG ratio of 0.75 and a beta of 1.13. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a twelve month low of $54.68 and a twelve month high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. On average, equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 7,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $20.43 per share, for a total transaction of $143,010.00. Following the completion of the transaction, the director now directly owns 49,500 shares of the company’s stock, valued at approximately $1,011,285. The trade was a 16.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders bought 29,402 shares of company stock valued at $653,787. Company insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TCBI shares. DA Davidson lowered their target price on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered their price objective on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a research report on Friday, January 24th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $95.00 price target (down from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday, January 29th. Finally, Hovde Group dropped their price target on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating on the stock in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus price target of $80.43.

Texas Capital Bancshares Company 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.