Fisher Asset Management LLC Sells 42,247 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Fisher Asset Management LLC lessened its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 15.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 234,577 shares of the bank’s stock after selling 42,247 shares during the quarter. Fisher Asset Management LLC owned 0.49% of Texas Capital Bancshares worth $15,161,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in Texas Capital Bancshares by 78.0% in the third quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock valued at $32,937,000 after acquiring an additional 245,074 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Texas Capital Bancshares in the 4th quarter worth approximately $873,000. Walleye Capital LLC lifted its position in shares of Texas Capital Bancshares by 63.9% during the 3rd quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock worth $10,267,000 after buying an additional 67,964 shares during the period. New York State Common Retirement Fund lifted its position in shares of Texas Capital Bancshares by 131.9% during the 3rd quarter. New York State Common Retirement Fund now owns 150,829 shares of the bank’s stock worth $8,884,000 after buying an additional 85,793 shares during the period. Finally, First Dallas Securities Inc. acquired a new stake in Texas Capital Bancshares in the 3rd quarter valued at $1,178,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Thomas E. Long bought 2,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, February 27th. The shares were bought at an average price of $58.78 per share, with a total value of $117,560.00. Following the purchase, the director now owns 7,542 shares of the company’s stock, valued at $443,318.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group lifted their price objective on Texas Capital Bancshares from $56.00 to $57.00 and gave the company a “sell” rating in a report on Tuesday, January 23rd. Truist Financial cut their price target on shares of Texas Capital Bancshares from $66.00 to $61.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Wedbush decreased their price objective on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Raymond James downgraded Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 4th. Finally, Barclays initiated coverage on Texas Capital Bancshares in a research report on Friday, March 8th. They set an “underweight” rating and a $47.00 price target on the stock. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $63.58.

Texas Capital Bancshares Trading Up 1.2 %

Shares of TCBI opened at $60.58 on Monday. The stock’s fifty day simple moving average is $58.91 and its 200-day simple moving average is $59.06. The firm has a market capitalization of $2.83 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.17. Texas Capital Bancshares, Inc. has a 12-month low of $42.79 and a 12-month high of $66.18. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

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.