Wellington Management Group LLP Sells 545,902 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Wellington Management Group LLP reduced its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 48.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 577,319 shares of the bank’s stock after selling 545,902 shares during the period. Wellington Management Group LLP’s holdings in Texas Capital Bancshares were worth $45,146,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Picton Mahoney Asset Management bought a new stake in Texas Capital Bancshares during the fourth quarter worth $30,000. Assetmark Inc. bought a new stake in shares of Texas Capital Bancshares in the 4th quarter worth $32,000. Venturi Wealth Management LLC purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at about $37,000. R Squared Ltd bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at about $41,000. Finally, KBC Group NV lifted its position in shares of Texas Capital Bancshares by 64.2% during the fourth quarter. KBC Group NV now owns 2,172 shares of the bank’s stock valued at $170,000 after purchasing an additional 849 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Price Performance

TCBI opened at $64.50 on Friday. The firm has a 50-day moving average price of $77.21 and a 200-day moving average price of $78.72. Texas Capital Bancshares, Inc. has a twelve month low of $54.68 and a twelve month high of $91.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 50.39, a PEG ratio of 0.75 and a beta of 0.74.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. Equities analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 7,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average price of $21.10 per share, with a total value of $147,700.00. Following the completion of the purchase, the director now owns 202,413 shares in the company, valued at approximately $4,270,914.30. The trade was a 3.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have purchased 29,402 shares of company stock worth $653,787. 1.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Stephens decreased their price objective on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. DA Davidson dropped their price target on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their price objective on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $95.00 target price (down from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $80.43.

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.