Metropolitan Life Insurance Co. NY lessened its stake in shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) by 44.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,957 shares of the bank’s stock after selling 12,717 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Texas Capital Bancshares were worth $1,460,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in TCBI. Point72 Asset Management L.P. acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at $119,000. Commonwealth Equity Services LLC acquired a new stake in shares of Texas Capital Bancshares during the first quarter valued at $222,000. Sentry Investments Corp. acquired a new stake in shares of Texas Capital Bancshares during the first quarter valued at $224,000. WINTON GROUP Ltd acquired a new stake in shares of Texas Capital Bancshares during the first quarter valued at $250,000. Finally, Capital Management Associates NY acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at $329,000.
In other news, Director Ian J. Turpin sold 5,320 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $93.06, for a total value of $495,079.20. Following the completion of the transaction, the director now owns 8,602 shares in the company, valued at approximately $800,502.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.
A number of analysts have issued reports on the company. Zacks Investment Research lowered Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Stephens reissued a “hold” rating and issued a $105.00 price target on shares of Texas Capital Bancshares in a research note on Monday, June 18th. SunTrust Banks restated a “buy” rating on shares of Texas Capital Bancshares in a report on Friday, July 20th. BidaskClub upgraded Texas Capital Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, July 21st. Finally, Sandler O’Neill restated a “hold” rating and issued a $103.00 price objective on shares of Texas Capital Bancshares in a report on Friday, July 20th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $106.00.
NASDAQ TCBI traded down $2.13 during mid-day trading on Friday, reaching $76.30. 557,347 shares of the company’s stock traded hands, compared to its average volume of 535,286. Texas Capital Bancshares Inc has a 1-year low of $74.22 and a 1-year high of $103.05. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 2.00. The firm has a market cap of $4.15 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, July 18th. The bank reported $1.38 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.01). The firm had revenue of $248.99 million during the quarter, compared to analyst estimates of $242.58 million. Texas Capital Bancshares had a return on equity of 12.51% and a net margin of 22.15%. During the same quarter in the previous year, the business posted $0.97 EPS. On average, analysts anticipate that Texas Capital Bancshares Inc will post 6.12 earnings per share for the current year.
Texas Capital Bancshares 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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