Clearbridge Investments LLC decreased its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 124,126 shares of the bank’s stock after selling 10,567 shares during the period. Clearbridge Investments LLC’s holdings in Texas Capital Bancshares were worth $11,238,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of Texas Capital Bancshares by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 263,975 shares of the bank’s stock valued at $22,314,000 after acquiring an additional 14,240 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Texas Capital Bancshares in the 3rd quarter valued at about $1,203,000. Cibc World Market Inc. purchased a new stake in Texas Capital Bancshares in the third quarter valued at approximately $2,677,000. Picton Mahoney Asset Management purchased a new stake in Texas Capital Bancshares in the third quarter valued at approximately $4,299,000. Finally, Jupiter Asset Management Ltd. lifted its position in Texas Capital Bancshares by 148.8% during the third quarter. Jupiter Asset Management Ltd. now owns 379,331 shares of the bank’s stock valued at $32,065,000 after purchasing an additional 226,872 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.
Texas Capital Bancshares Trading Down 0.8%
Shares of TCBI stock opened at $100.19 on Thursday. The stock has a market capitalization of $4.38 billion, a PE ratio of 13.47, a P/E/G ratio of 1.43 and a beta of 0.67. Texas Capital Bancshares, Inc. has a 1-year low of $73.61 and a 1-year high of $108.92. The business has a 50-day moving average of $99.80 and a 200 day moving average of $97.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01.
Texas Capital Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st. Texas Capital Bancshares’s payout ratio is presently 10.75%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Citigroup boosted their price target on shares of Texas Capital Bancshares from $88.00 to $96.00 and gave the stock a “sell” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada boosted their price target on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. cut their price target on shares of Texas Capital Bancshares from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Wednesday, April 1st. Wall Street Zen raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Zacks Research downgraded Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.09.
Check Out Our Latest Analysis on Texas Capital Bancshares
Insider Buying and Selling at Texas Capital Bancshares
In related news, insider Anna M. Alvarado sold 3,500 shares of Texas Capital Bancshares stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total value of $353,325.00. Following the transaction, the insider directly owned 23,810 shares of the company’s stock, valued at $2,403,619.50. The trade was a 12.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction on Monday, June 8th. The stock was sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the completion of the transaction, the chief executive officer directly owned 167,635 shares in the company, valued at approximately $16,968,014.70. The trade was a 22.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 102,100 shares of company stock worth $10,366,023. 1.91% of the stock is owned by insiders.
Texas Capital Bancshares 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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