Deutsche Bank AG Sells 28,670 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Deutsche Bank AG lowered its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 25.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 83,498 shares of the bank’s stock after selling 28,670 shares during the quarter. Deutsche Bank AG’s holdings in Texas Capital Bancshares were worth $6,237,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Azora Capital LP bought a new position in shares of Texas Capital Bancshares in the 4th quarter worth approximately $25,232,000. SG Americas Securities LLC bought a new position in shares of Texas Capital Bancshares in the 1st quarter worth approximately $16,938,000. Millennium Management LLC increased its holdings in Texas Capital Bancshares by 60.6% in the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank’s stock worth $30,144,000 after acquiring an additional 145,393 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Texas Capital Bancshares in the 4th quarter worth approximately $6,979,000. Finally, Northern Trust Corp increased its holdings in Texas Capital Bancshares by 12.0% in the 4th quarter. Northern Trust Corp now owns 660,478 shares of the bank’s stock worth $51,649,000 after acquiring an additional 70,804 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the purchase, the director owned 60,000 shares of the company’s stock, valued at approximately $1,216,800. The trade was a 21.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TCBI has been the subject of a number of research analyst reports. Citigroup increased their price objective on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a report on Friday, July 18th. Keefe, Bruyette & Woods increased their price objective on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, July 21st. JPMorgan Chase & Co. increased their price objective on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Barclays increased their target price on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an “underweight” rating in a research report on Friday, July 18th. Finally, Stephens lowered their target price on Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $83.50.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock opened at $83.94 on Friday. The stock’s fifty day moving average price is $82.38 and its 200-day moving average price is $76.52. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $94.61. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.84 billion, a P/E ratio of 33.31, a P/E/G ratio of 0.70 and a beta of 0.65.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%. The company had revenue of $307.46 million for the quarter, compared to analyst estimates of $298.90 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Texas Capital Bancshares 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.