Savant Capital LLC lessened its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) by 80.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,352 shares of the bank’s stock after selling 17,598 shares during the period. Savant Capital LLC’s holdings in Texas Capital Bancshares were worth $394,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Danske Bank A S bought a new stake in shares of Texas Capital Bancshares in the third quarter valued at about $25,000. Farther Finance Advisors LLC lifted its stake 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 buying an additional 304 shares during the period. Advisory Services Network LLC bought a new stake in shares of Texas Capital Bancshares in the third quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Texas Capital Bancshares by 169.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock valued at $35,000 after buying an additional 246 shares during the period. Finally, Torren Management LLC bought a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at about $40,000. Institutional investors own 96.88% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on TCBI. Piper Sandler increased their price target on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Citigroup increased 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 report on Tuesday, April 28th. Royal Bank Of Canada increased 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 report on Friday, April 24th. Zacks Research lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Wall Street Zen raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and an average price target of $104.09.
Texas Capital Bancshares Stock Performance
NASDAQ:TCBI opened at $101.69 on Friday. Texas Capital Bancshares, Inc. has a 12-month low of $73.27 and a 12-month high of $108.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4.44 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.45 and a beta of 0.67. The firm has a 50-day moving average price of $99.36 and a 200 day moving average price of $96.93.
Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.16. The company had revenue of $323.99 million during the quarter, compared to analyst estimates of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. Research analysts anticipate that Texas Capital Bancshares, Inc. will post 7.63 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 Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Texas Capital Bancshares’s dividend payout ratio (DPR) is presently 10.75%.
Insider Buying and Selling at Texas Capital Bancshares
In other news, Director Paola M. Arbour acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was 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 owned 6,671 shares in the company, valued at approximately $610,396.50. This represents a 17.63% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.91% of the company’s stock.
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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