Quantbot Technologies LP acquired a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 54,096 shares of the bank’s stock, valued at approximately $5,586,000.
A number of other institutional investors have also recently bought and sold shares of TCBI. Evolve Private Wealth LLC acquired a new position in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $497,000. William Blair Investment Management LLC acquired a new stake in shares of Texas Capital Bancshares in the second quarter valued at approximately $20,799,000. Ieq Capital LLC bought a new stake in shares of Texas Capital Bancshares in the second quarter valued at approximately $3,553,000. Heartland Advisors Inc. acquired a new stake in Texas Capital Bancshares during the second quarter worth approximately $28,992,000. Finally, Allworth Financial LP acquired a new stake in Texas Capital Bancshares during the second quarter worth approximately $136,000. Institutional investors own 96.88% of the company’s stock.
Wall Street Analyst Weigh In
TCBI has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Fundamental Research set a $110.00 price target on Texas Capital Bancshares in a research report on Wednesday, July 1st. JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday, July 1st. TD Cowen cut their price target on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating for the company in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average price target of $105.83.
Insider Buying and Selling
In other news, insider Anna M. Alvarado sold 3,500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total transaction of $353,325.00. Following the sale, the insider directly owned 23,810 shares in the company, valued at approximately $2,403,619.50. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ellen Detrich sold 2,045 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the completion of the transaction, the insider directly owned 7,529 shares of the company’s stock, valued at $753,125.87. This represents a 21.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 104,145 shares of company stock worth $10,570,584 in the last 90 days. Insiders own 1.91% of the company’s stock.
Texas Capital Bancshares Trading Up 0.3%
Shares of Texas Capital Bancshares stock opened at $98.30 on Friday. The firm’s 50 day moving average is $101.32 and its 200 day moving average is $99.76. The firm has a market capitalization of $4.27 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.20 and a beta of 0.68. Texas Capital Bancshares, Inc. has a 1 year low of $75.41 and a 1 year high of $108.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15.
Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. The firm had revenue of $335.50 million for the quarter, compared to analyst estimates of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $1.63 earnings per share. Equities research analysts forecast that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current fiscal year.
Texas Capital Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Texas Capital Bancshares’s dividend payout ratio (DPR) is 10.40%.
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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