Peregrine Capital Management LLC Sells 324 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Peregrine Capital Management LLC lowered its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,121 shares of the bank’s stock after selling 324 shares during the quarter. Peregrine Capital Management LLC owned about 0.20% of Texas Capital Bancshares worth $5,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TCBI. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Texas Capital Bancshares by 18.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,303 shares of the bank’s stock worth $601,000 after acquiring an additional 1,475 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Texas Capital Bancshares by 2.6% during the fourth quarter. Russell Investments Group Ltd. now owns 129,763 shares of the bank’s stock valued at $8,387,000 after buying an additional 3,245 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Texas Capital Bancshares by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock valued at $3,887,000 after buying an additional 208 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Texas Capital Bancshares by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 538,736 shares of the bank’s stock worth $34,819,000 after buying an additional 12,254 shares during the period. Finally, Versor Investments LP bought a new position in shares of Texas Capital Bancshares in the 4th quarter worth about $291,000. 96.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TCBI has been the topic of several research reports. Wedbush boosted their price objective on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upped their price target on Texas Capital Bancshares from $63.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Stephens lifted their price objective on Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Citigroup reissued a “sell” rating and issued a $60.00 target price on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Finally, Jefferies Financial Group reduced their target price on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.19.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 4,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were acquired at an average price of $20.62 per share, for a total transaction of $82,480.00. Following the purchase, the director now directly owns 12,794 shares in the company, valued at $263,812.28. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the purchase, the director now directly owns 55,294 shares in the company, valued at $1,102,009.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Stallings acquired 4,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was acquired at an average cost of $20.62 per share, with a total value of $82,480.00. Following the completion of the purchase, the director now directly owns 12,794 shares in the company, valued at $263,812.28. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 43,500 shares of company stock valued at $876,400. Corporate insiders own 0.99% of the company’s stock.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock opened at $67.22 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. Texas Capital Bancshares, Inc. has a 52 week low of $52.89 and a 52 week high of $72.07. The stock’s 50-day simple moving average is $63.08 and its 200-day simple moving average is $60.50. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.99 and a beta of 1.15.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The business had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same quarter in the previous year, the company earned $1.33 earnings per share. As a group, analysts expect that Texas Capital Bancshares, Inc. will post 3.31 earnings per share for the current fiscal year.

About Texas Capital Bancshares

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.