Wellington Management Group LLP Sells 545,902 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Wellington Management Group LLP lowered its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 48.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 577,319 shares of the bank’s stock after selling 545,902 shares during the period. Wellington Management Group LLP owned approximately 1.25% of Texas Capital Bancshares worth $45,146,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in shares of Texas Capital Bancshares by 28.9% in the 3rd quarter. FMR LLC now owns 4,167 shares of the bank’s stock valued at $298,000 after buying an additional 935 shares in the last quarter. BNP Paribas Financial Markets raised its position in Texas Capital Bancshares by 141.4% during the third quarter. BNP Paribas Financial Markets now owns 22,321 shares of the bank’s stock valued at $1,595,000 after purchasing an additional 13,074 shares in the last quarter. Captrust Financial Advisors lifted its stake in Texas Capital Bancshares by 3.8% during the third quarter. Captrust Financial Advisors now owns 10,036 shares of the bank’s stock worth $717,000 after purchasing an additional 369 shares during the last quarter. Verition Fund Management LLC bought a new stake in Texas Capital Bancshares during the third quarter worth $530,000. Finally, HighTower Advisors LLC boosted its holdings in shares of Texas Capital Bancshares by 13.5% in the 3rd quarter. HighTower Advisors LLC now owns 12,608 shares of the bank’s stock valued at $902,000 after purchasing an additional 1,497 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TCBI. Hovde Group dropped their price objective on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, March 7th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $95.00 price target (down from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. Stephens lowered their price objective on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price objective on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Finally, StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $80.43.

Texas Capital Bancshares Stock Down 3.2 %

Shares of NASDAQ TCBI opened at $64.50 on Friday. The company’s 50 day moving average price is $77.21 and its 200-day moving average price is $78.72. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares, Inc. has a 52-week low of $54.68 and a 52-week high of $91.80. The company has a market capitalization of $2.98 billion, a P/E ratio of 50.39, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 EPS for the quarter, beating 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%. Equities analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Stallings bought 7,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $21.10 per share, with a total value of $147,700.00. Following the completion of the transaction, the director now directly owns 202,413 shares of the company’s stock, valued at $4,270,914.30. This trade represents a 3.58 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased 29,402 shares of company stock worth $653,787 in the last quarter. 1.72% of the stock is owned by corporate insiders.

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.