North Reef Capital Management LP Sells 746,561 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

North Reef Capital Management LP lowered its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 44.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 928,439 shares of the bank’s stock after selling 746,561 shares during the period. Texas Capital Bancshares comprises about 3.3% of North Reef Capital Management LP’s investment portfolio, making the stock its 13th biggest position. North Reef Capital Management LP’s holdings in Texas Capital Bancshares were worth $72,604,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Picton Mahoney Asset Management purchased a new position in shares of Texas Capital Bancshares in the fourth quarter worth $30,000. Assetmark Inc. purchased a new position in shares of Texas Capital Bancshares in the fourth quarter valued at about $32,000. Venturi Wealth Management LLC bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at about $37,000. R Squared Ltd purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter worth about $41,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Texas Capital Bancshares in the fourth quarter worth about $115,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TCBI shares. JPMorgan Chase & Co. dropped their price objective on Texas Capital Bancshares from $78.00 to $70.00 and set an “underweight” rating for the company in a report on Monday. Stephens dropped their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James reduced their price objective on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating on the stock in a research report on Monday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $76.64.

Texas Capital Bancshares Stock Performance

Shares of TCBI opened at $68.21 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.15 billion, a P/E ratio of 53.29, a P/E/G ratio of 0.75 and a beta of 0.74. The business’s 50 day moving average price is $72.04 and its 200-day moving average price is $77.88. Texas Capital Bancshares, Inc. has a 52 week low of $56.24 and a 52 week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.07). Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. The company had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 500 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was acquired at an average cost of $68.20 per share, with a total value of $34,100.00. Following the completion of the acquisition, the director now owns 289,961 shares of the company’s stock, valued at approximately $19,775,340.20. This represents a 0.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have bought 28,732 shares of company stock valued at $820,610. 1.72% of the stock is owned by 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.