Corient Private Wealth LP bought a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) during the second quarter, HoldingsChannel.com reports. The firm bought 21,421 shares of the bank’s stock, valued at approximately $2,212,000.
A number of other institutional investors also recently modified their holdings of TCBI. Hillsdale Investment Management Inc. grew its position in Texas Capital Bancshares by 57,777.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 52,090 shares of the bank’s stock valued at $4,716,000 after acquiring an additional 52,000 shares during the last quarter. BlackRock Inc. bought a new position in shares of Texas Capital Bancshares in the second quarter worth about $578,148,000. Quantinno Capital Management LP lifted its holdings in shares of Texas Capital Bancshares by 288.1% in the first quarter. Quantinno Capital Management LP now owns 34,729 shares of the bank’s stock worth $3,295,000 after acquiring an additional 25,781 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Texas Capital Bancshares by 13.6% in the 1st quarter. Bank of America Corp DE now owns 378,515 shares of the bank’s stock valued at $35,914,000 after purchasing an additional 45,220 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Texas Capital Bancshares in the 1st quarter valued at approximately $18,391,000. Institutional investors and hedge funds own 96.88% of the company’s stock.
Insider Transactions at Texas Capital Bancshares
In related news, CEO Rob C. Holmes sold 49,500 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the transaction, the chief executive officer owned 167,635 shares in the company, valued at $16,968,014.70. The trade was a 22.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ellen Detrich sold 2,045 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $100.03, for a total transaction of $204,561.35. Following the transaction, the insider owned 7,529 shares in the company, valued at $753,125.87. This represents a 21.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 104,145 shares of company stock valued at $10,570,584. Corporate insiders own 1.91% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on Texas Capital Bancshares
Texas Capital Bancshares Trading Up 1.1%
TCBI opened at $96.68 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares, Inc. has a fifty-two week low of $75.41 and a fifty-two week high of $108.92. The company’s 50 day moving average price is $100.88 and its two-hundred day moving average price is $99.38. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.16 and a beta of 0.66.
Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.01. The firm had revenue of $335.50 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 earnings per share. As a group, research analysts predict that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current year.
Texas Capital Bancshares Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.20 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. Texas Capital Bancshares’s payout ratio 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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Want to see what other hedge funds are holding TCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report).
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