Frontier Capital Management Co. LLC Lowers Holdings in Texas Capital Bancshares Inc (TCBI)

Frontier Capital Management Co. LLC cut its position in Texas Capital Bancshares Inc (NASDAQ:TCBI) by 13.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 372,343 shares of the bank’s stock after selling 56,299 shares during the quarter. Frontier Capital Management Co. LLC owned about 0.75% of Texas Capital Bancshares worth $33,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TCBI. Eagle Asset Management Inc. grew its position in shares of Texas Capital Bancshares by 791.5% in the third quarter. Eagle Asset Management Inc. now owns 776,161 shares of the bank’s stock valued at $67,448,000 after purchasing an additional 689,096 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of Texas Capital Bancshares in the second quarter valued at $661,000. Balyasny Asset Management LLC grew its position in shares of Texas Capital Bancshares by 474.5% in the second quarter. Balyasny Asset Management LLC now owns 657,805 shares of the bank’s stock valued at $50,914,000 after purchasing an additional 543,299 shares in the last quarter. State Street Corp grew its position in shares of Texas Capital Bancshares by 14.8% in the second quarter. State Street Corp now owns 3,497,607 shares of the bank’s stock valued at $270,711,000 after purchasing an additional 449,797 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of Texas Capital Bancshares by 26.5% in the second quarter. Capital Research Global Investors now owns 2,127,895 shares of the bank’s stock valued at $164,699,000 after purchasing an additional 445,248 shares in the last quarter.

Texas Capital Bancshares Inc (TCBI) opened at $99.95 on Friday. Texas Capital Bancshares Inc has a 52-week low of $69.65 and a 52-week high of $100.45. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.22 and a current ratio of 1.27. The company has a market capitalization of $5,070.00, a PE ratio of 25.96, a P/E/G ratio of 1.42 and a beta of 1.66.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, October 18th. The bank reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.01. Texas Capital Bancshares had a return on equity of 10.40% and a net margin of 22.50%. The business had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $214.08 million. During the same period in the previous year, the business earned $0.87 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. equities research analysts predict that Texas Capital Bancshares Inc will post 4.04 EPS for the current year.

Several equities analysts have recently weighed in on TCBI shares. Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research report on Tuesday, December 26th. Barclays set a $87.00 price target on Texas Capital Bancshares and gave the company a “hold” rating in a research report on Friday, October 20th. Deutsche Bank lifted their price target on Texas Capital Bancshares from $93.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Royal Bank of Canada reiterated a “buy” rating on shares of Texas Capital Bancshares in a research report on Friday, October 20th. Finally, Bank of America reiterated a “buy” rating and issued a $100.00 price target (up from $97.00) on shares of Texas Capital Bancshares in a research report on Thursday, October 19th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Texas Capital Bancshares presently has a consensus rating of “Buy” and a consensus target price of $95.83.

COPYRIGHT VIOLATION WARNING: This report was first reported by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this report on another domain, it was copied illegally and reposted in violation of United States & international trademark and copyright laws. The legal version of this report can be accessed at https://www.truebluetribune.com/2018/01/21/frontier-capital-management-co-llc-lowers-holdings-in-texas-capital-bancshares-inc-tcbi.html.

Texas Capital Bancshares Profile

Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.

Want to see what other hedge funds are holding TCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Capital Bancshares Inc (NASDAQ:TCBI).

Institutional Ownership by Quarter for Texas Capital Bancshares (NASDAQ:TCBI)

Receive News & Ratings for Texas Capital Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Capital Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply