Alliancebernstein L.P. Cuts Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Alliancebernstein L.P. reduced its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 14.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,614,589 shares of the bank’s stock after selling 281,358 shares during the period. Alliancebernstein L.P.’s holdings in Texas Capital Bancshares were worth $126,261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. increased its stake in Texas Capital Bancshares by 300.1% in the 4th quarter. Meeder Asset Management Inc. now owns 3,961 shares of the bank’s stock worth $310,000 after acquiring an additional 2,971 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Texas Capital Bancshares by 10.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,547 shares of the bank’s stock valued at $512,000 after purchasing an additional 613 shares during the last quarter. Norges Bank bought a new position in Texas Capital Bancshares during the fourth quarter valued at $42,050,000. JPMorgan Chase & Co. grew its holdings in Texas Capital Bancshares by 75.5% during the 4th quarter. JPMorgan Chase & Co. now owns 317,292 shares of the bank’s stock valued at $24,812,000 after purchasing an additional 136,507 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in shares of Texas Capital Bancshares by 4.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 490,018 shares of the bank’s stock valued at $38,319,000 after buying an additional 23,017 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $20.43 per share, for a total transaction of $143,010.00. Following the completion of the transaction, the director now directly owns 49,500 shares of the company’s stock, valued at approximately $1,011,285. This trade represents a 16.47 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders bought 29,402 shares of company stock valued at $653,787 over the last quarter. 1.72% of the stock is currently owned by company insiders.

Texas Capital Bancshares Stock Up 0.5 %

TCBI stock opened at $74.71 on Thursday. The stock has a market capitalization of $3.45 billion, a PE ratio of 58.37, a price-to-earnings-growth ratio of 0.75 and a beta of 1.13. Texas Capital Bancshares, Inc. has a 52 week low of $54.68 and a 52 week 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 firm has a 50 day moving average of $77.68 and a 200 day moving average of $78.80.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on TCBI. DA Davidson reduced their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Hovde Group lowered their price objective on shares of Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. dropped their price objective on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Barclays increased their target price on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.43.

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.