Legato Capital Management LLC purchased a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,106 shares of the bank’s stock, valued at approximately $553,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TCBI. AQR Capital Management LLC boosted its position in shares of Texas Capital Bancshares by 25.1% during the 3rd quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock valued at $162,229,000 after acquiring an additional 384,748 shares during the last quarter. Azora Capital LP boosted its position in shares of Texas Capital Bancshares by 11.5% during the 3rd quarter. Azora Capital LP now owns 1,036,613 shares of the bank’s stock valued at $87,625,000 after acquiring an additional 106,599 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Texas Capital Bancshares by 2.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 847,583 shares of the bank’s stock valued at $76,740,000 after acquiring an additional 18,258 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Texas Capital Bancshares by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock valued at $41,837,000 after acquiring an additional 20,231 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its position in shares of Texas Capital Bancshares by 1.4% during the 3rd quarter. Heartland Advisors Inc. now owns 410,903 shares of the bank’s stock valued at $34,734,000 after acquiring an additional 5,734 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.
Texas Capital Bancshares Stock Performance
NASDAQ:TCBI opened at $100.37 on Wednesday. The stock’s fifty day moving average is $98.24 and its 200 day moving average is $96.24. Texas Capital Bancshares, Inc. has a fifty-two week low of $70.11 and a fifty-two week high of $108.92. The firm has a market capitalization of $4.38 billion, a PE ratio of 13.49, a PEG ratio of 1.41 and a beta of 0.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01.
Texas Capital Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 1st.
Insider Buying and Selling at Texas Capital Bancshares
In other Texas Capital Bancshares news, Director Robert W. Stallings bought 5,500 shares of Texas Capital Bancshares stock in a transaction on Friday, March 6th. The shares were acquired at an average price of $22.80 per share, for a total transaction of $125,400.00. Following the completion of the purchase, the director directly owned 175,087 shares in the company, valued at approximately $3,991,983.60. This trade represents a 3.24% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paola M. Arbour bought 1,000 shares of Texas Capital Bancshares stock in a transaction on Wednesday, March 11th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $91,500.00. Following the purchase, the director owned 6,671 shares of the company’s stock, valued at approximately $610,396.50. This trade represents a 17.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 26,500 shares of company stock worth $670,700 in the last 90 days. 1.91% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of research firms have recently commented on TCBI. Wall Street Zen upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. JPMorgan Chase & Co. lowered their target price on Texas Capital Bancshares from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. Piper Sandler increased their target price on Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Zacks Research downgraded Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Royal Bank Of Canada increased their target price on Texas Capital Bancshares from $110.00 to $114.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $104.09.
Read Our Latest Research Report on Texas Capital Bancshares
About Texas Capital Bancshares
Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.
In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.
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