Amalgamated Bank Sells 2,061 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Amalgamated Bank cut its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,625 shares of the bank’s stock after selling 2,061 shares during the quarter. Amalgamated Bank’s holdings in Texas Capital Bancshares were worth $1,474,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. First Hawaiian Bank bought a new stake in Texas Capital Bancshares in the second quarter worth $675,000. AQR Capital Management LLC lifted its position in shares of Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after purchasing an additional 506,094 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Texas Capital Bancshares by 73.0% during the first quarter. BNP Paribas Financial Markets now owns 25,489 shares of the bank’s stock worth $1,569,000 after purchasing an additional 10,752 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Texas Capital Bancshares by 26.6% during the second quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock worth $2,096,000 after purchasing an additional 7,200 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its position in shares of Texas Capital Bancshares by 22.0% during the second quarter. Hodges Capital Management Inc. now owns 179,098 shares of the bank’s stock worth $10,950,000 after purchasing an additional 32,248 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Price Performance

TCBI opened at $89.00 on Wednesday. The business’s 50-day moving average is $74.53 and its two-hundred day moving average is $66.14. Texas Capital Bancshares, Inc. has a 1 year low of $53.16 and a 1 year high of $89.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $4.11 billion, a PE ratio of 494.44, a price-to-earnings-growth ratio of 0.80 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.65. The business had revenue of $304.91 million during the quarter, compared to the consensus estimate of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. Research analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 20,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the acquisition, the director now owns 84,587 shares in the company, valued at $1,800,011.36. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.99% of the company’s stock.

Analyst Ratings Changes

TCBI has been the subject of several research analyst reports. Citigroup reiterated a “sell” rating and set a $60.00 target price on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Barclays lifted their target price on Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and raised their price target for the company from $51.00 to $77.00 in a research note on Monday, September 9th. Finally, Royal Bank of Canada raised their price target on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.00.

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.