Penn Capital Management Company LLC lessened its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 182,055 shares of the bank’s stock after selling 17,748 shares during the quarter. Texas Capital Bancshares makes up about 1.3% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 25th largest position. Penn Capital Management Company LLC’s holdings in Texas Capital Bancshares were worth $16,525,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Optimize Financial Inc acquired a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $441,000. Federated Hermes Inc. grew its holdings in shares of Texas Capital Bancshares by 153.7% during the 3rd quarter. Federated Hermes Inc. now owns 123,900 shares of the bank’s stock worth $10,473,000 after purchasing an additional 75,061 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Texas Capital Bancshares by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 263,975 shares of the bank’s stock worth $22,314,000 after purchasing an additional 14,240 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Texas Capital Bancshares by 15.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 44,242 shares of the bank’s stock worth $3,740,000 after purchasing an additional 5,867 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $1,203,000. Institutional investors and hedge funds own 96.88% of the company’s stock.
Texas Capital Bancshares Trading Up 1.0%
Shares of TCBI opened at $100.37 on Wednesday. The stock has a fifty day moving average price of $98.24 and a two-hundred day moving average price of $96.24. 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, Inc. has a 52-week low of $70.11 and a 52-week high of $108.92. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.41 and a beta of 0.68.
Texas Capital Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.20 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.80 annualized dividend and a yield of 0.8%.
Insider Buying and Selling at Texas Capital Bancshares
In other Texas Capital Bancshares news, Director Paola M. Arbour acquired 1,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $91,500.00. Following the transaction, the director owned 6,671 shares in the company, valued at $610,396.50. This trade represents a 17.63% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings acquired 20,000 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was acquired at an average price of $22.69 per share, with a total value of $453,800.00. Following the transaction, the director owned 169,587 shares in the company, valued at approximately $3,847,929.03. The trade was a 13.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 26,500 shares of company stock valued at $670,700. Corporate insiders own 1.91% of the company’s stock.
Wall Street Analyst Weigh In
TCBI has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price target on Texas Capital Bancshares from $110.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. decreased their price target on Texas Capital Bancshares from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Texas Capital Bancshares in a research note on Wednesday, January 28th. Citigroup boosted their price target on Texas Capital Bancshares from $88.00 to $96.00 and gave the company a “sell” rating in a research note on Tuesday, April 28th. Finally, Piper Sandler boosted their price target on Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $104.09.
Check Out Our Latest Stock Report on Texas Capital Bancshares
Texas Capital Bancshares Company Profile
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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