16,300 Shares in Texas Capital Bancshares, Inc. $TCBI Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems acquired 16,300 shares of Texas Capital Bancshares worth approximately $1.68 million during the second quarter. Institutional investors collectively own 96.88% of the company’s stock.
• Analysts maintain a mixed outlook, with four Buy, eight Hold, and one Sell rating. The consensus rating is Hold, with an average price target of $105.83.
• Texas Capital Bancshares modestly beat quarterly earnings expectations, reporting $1.88 EPS and $335.5 million in revenue, while announcing a quarterly dividend of $0.20 per share.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,300 shares of the bank's stock, valued at approximately $1,683,000.

A number of other hedge funds have also recently added to or reduced their stakes in TCBI. Danske Bank A S bought a new position in shares of Texas Capital Bancshares in the 3rd quarter worth $25,000. Root Financial Partners LLC grew its position in Texas Capital Bancshares by 85.2% in the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock valued at $31,000 after purchasing an additional 150 shares during the period. Ameritas Advisory Services LLC bought a new stake in Texas Capital Bancshares during the 2nd quarter valued at $34,000. Advisory Services Network LLC bought a new stake in Texas Capital Bancshares during the 3rd quarter valued at $32,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Texas Capital Bancshares during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Analyst Ratings Changes

TCBI has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Citigroup upped their target price on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the company an "underweight" rating in a research report on Wednesday, July 1st. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Finally, Stephens decreased their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $105.83.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $99.09 on Friday. The firm has a 50-day moving average of $100.14 and a 200-day moving average of $99.13. The company has a market cap of $4.31 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.20 and a beta of 0.66. 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 one year low of $75.41 and a one year high of $108.92.

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 for the quarter, topping the consensus estimate of $1.87 by $0.01. The business had revenue of $335.50 million for the quarter, compared to analysts' expectations of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 earnings per share. Equities research analysts forecast that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares's payout ratio is presently 10.40%.

Insider Activity

In other news, insider Ellen Detrich sold 2,045 shares of the company's stock in a transaction that occurred on Friday, July 24th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.91% of the stock is currently owned by corporate insiders.

Texas Capital Bancshares Profile

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank provides banking, lending and financial services to businesses, entrepreneurs, professionals, high-net-worth individuals and institutional clients.

Its offerings include commercial and industrial lending, commercial real estate financing, treasury management, private banking, wealth management, investment banking and capital markets services.

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