Hennessy Advisors Inc. Sells 10,000 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Hennessy Advisors Inc. lessened its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,000 shares of the bank’s stock after selling 10,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Texas Capital Bancshares were worth $782,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Moody National Bank Trust Division grew its position in Texas Capital Bancshares by 9.5% during the 4th quarter. Moody National Bank Trust Division now owns 17,371 shares of the bank’s stock worth $1,358,000 after acquiring an additional 1,508 shares during the last quarter. Cim Investment Management Inc. bought a new stake in shares of Texas Capital Bancshares during the third quarter worth about $212,000. Sanctuary Advisors LLC acquired a new position in shares of Texas Capital Bancshares in the third quarter valued at approximately $310,000. Teachers Retirement System of The State of Kentucky raised its holdings in Texas Capital Bancshares by 19.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank’s stock valued at $4,045,000 after buying an additional 9,225 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Texas Capital Bancshares by 5.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock worth $309,000 after acquiring an additional 217 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Trading Up 2.3 %

Shares of Texas Capital Bancshares stock opened at $80.74 on Friday. The stock has a market capitalization of $3.73 billion, a PE ratio of 448.56, a price-to-earnings-growth ratio of 0.66 and a beta of 1.17. Texas Capital Bancshares, Inc. has a 52 week low of $54.68 and a 52 week high of $91.80. The stock has a 50 day moving average price of $82.65 and a two-hundred day moving average price of $73.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The business had revenue of $304.91 million during the quarter, compared to analyst estimates of $279.64 million. As a group, equities analysts anticipate that Texas Capital Bancshares, Inc. will post 4.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TCBI. Hovde Group raised their price target on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $77.00 to $82.00 in a research report on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on Texas Capital Bancshares from $86.00 to $81.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. DA Davidson raised their price objective on Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Truist Financial upped their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.75.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were bought at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the transaction, the director now directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.53% of the stock is currently 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.