Public Employees Retirement System of Ohio acquired a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) in the 2nd quarter, Holdings Channel reports. The fund acquired 27,336 shares of the bank’s stock, valued at approximately $2,823,000.
A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Texas Capital Bancshares during the 2nd quarter worth about $578,148,000. T. Rowe Price Investment Management Inc. grew its stake in Texas Capital Bancshares by 1.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,376,880 shares of the bank’s stock valued at $305,743,000 after purchasing an additional 43,003 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Texas Capital Bancshares by 16.4% in the fourth quarter. AQR Capital Management LLC now owns 2,234,678 shares of the bank’s stock valued at $202,328,000 after purchasing an additional 315,484 shares during the period. Geode Capital Management LLC raised its stake in shares of Texas Capital Bancshares by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank’s stock worth $108,436,000 after purchasing an additional 33,709 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Texas Capital Bancshares in the second quarter worth about $75,429,000. 96.88% of the stock is owned by hedge funds and other institutional investors.
Texas Capital Bancshares Stock Up 0.8%
Shares of TCBI opened at $98.64 on Friday. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.20 and a beta of 0.66. Texas Capital Bancshares, Inc. has a 52 week low of $75.41 and a 52 week high of $108.92. The stock’s 50-day moving average price is $100.67 and its 200-day moving average price is $99.34. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15.
Texas Capital Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Capital Bancshares’s payout ratio is 10.40%.
Insider Activity
In related news, insider Ellen Detrich sold 2,045 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $100.03, for a total transaction of $204,561.35. Following the sale, the insider owned 7,529 shares in the company, valued at approximately $753,125.87. This trade represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $353,325.00. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,045 shares of company stock valued at $5,568,276 in the last three months. 1.91% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research firms recently commented on TCBI. TD Cowen decreased their target price on Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating for the company in a report on Monday, July 27th. Fundamental Research set a $110.00 price target on shares of Texas Capital Bancshares in a research report on Wednesday, July 1st. Wall Street Zen upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Citigroup upped their price objective on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.83.
Read Our Latest Stock Analysis on TCBI
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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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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