Headlands Technologies LLC Trims Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Headlands Technologies LLC lessened its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 61.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,645 shares of the bank’s stock after selling 5,881 shares during the quarter. Headlands Technologies LLC’s holdings in Texas Capital Bancshares were worth $285,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TCBI. Picton Mahoney Asset Management acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at $30,000. Assetmark Inc. acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter worth about $32,000. Venturi Wealth Management LLC purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter worth about $37,000. R Squared Ltd acquired a new position in shares of Texas Capital Bancshares in the fourth quarter valued at approximately $41,000. Finally, KBC Group NV lifted its stake 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 buying an additional 849 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of 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. DA Davidson lowered their price objective on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Stephens reduced their target price on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Hovde Group lowered their price target on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a report on Friday, March 7th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $95.00 price objective (down from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $80.43.

Texas Capital Bancshares Stock Performance

Texas Capital Bancshares stock opened at $64.50 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares, Inc. has a one year low of $54.68 and a one year high of $91.80. The stock’s 50 day moving average price is $77.21 and its 200 day moving average price is $78.67. The firm has a market capitalization of $2.98 billion, a PE ratio of 50.39, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74.

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

Insider Activity

In related news, Director Robert W. Stallings purchased 5,670 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average price of $27.60 per share, for a total transaction of $156,492.00. Following the completion of the purchase, the director now owns 180,893 shares in the company, valued at approximately $4,992,646.80. This represents a 3.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired 29,402 shares of company stock worth $653,787 over the last ninety days. Corporate insiders own 1.72% of the company’s stock.

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.