Norges Bank Makes New $51.73 Million Investment in Texas Capital Bancshares, Inc. $TCBI

Norges Bank bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBIFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 571,330 shares of the bank’s stock, valued at approximately $51,728,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Danske Bank A S acquired a new stake in shares of Texas Capital Bancshares in the third quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its holdings in shares of Texas Capital Bancshares by 1,381.8% in the fourth quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock valued at $30,000 after acquiring an additional 304 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Texas Capital Bancshares in the third quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Texas Capital Bancshares by 169.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock worth $35,000 after acquiring an additional 246 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Texas Capital Bancshares during the fourth quarter worth about $36,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Texas Capital Bancshares news, Director Paola M. Arbour purchased 1,000 shares of Texas Capital Bancshares stock in a transaction on Wednesday, March 11th. The shares were bought at an average price of $91.50 per share, with a total value of $91,500.00. Following the completion of the acquisition, the director directly 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.91% of the stock is owned by company insiders.

Texas Capital Bancshares Price Performance

TCBI opened at $101.69 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.44 and a beta of 0.67. Texas Capital Bancshares, Inc. has a one year low of $73.27 and a one year high of $108.92. The business’s fifty day moving average is $99.36 and its two-hundred day moving average is $97.03.

Texas Capital Bancshares (NASDAQ:TCBIGet Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.The business had revenue of $323.99 million during the quarter, compared to analysts’ expectations of $318.10 million. During the same quarter last year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. Analysts anticipate that Texas Capital Bancshares, Inc. will post 7.63 EPS for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. Texas Capital Bancshares’s payout ratio is presently 10.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TCBI shares. Zacks Research downgraded shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Citigroup increased their target price on Texas Capital Bancshares from $88.00 to $96.00 and gave the stock a “sell” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. reduced their price target on Texas Capital Bancshares from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. Royal Bank Of Canada upped their price objective on Texas Capital Bancshares from $110.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Finally, Piper Sandler increased their price objective on Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $104.09.

Read Our Latest Stock Report on Texas Capital Bancshares

Texas Capital Bancshares Profile

(Free Report)

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

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