27,336 Shares in Texas Capital Bancshares, Inc. $TCBI Purchased by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio purchased 27,336 Texas Capital Bancshares shares valued at approximately $2.8 million, while institutional investors collectively own 96.88% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $105.83; recent targets range from $100 to $112.
• Texas Capital Bancshares exceeded quarterly earnings and revenue expectations, reporting $1.88 EPS and $335.5 million in revenue, and declared a quarterly dividend of $0.20 per share.

Public Employees Retirement System of Ohio 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 Form 13F filing with the Securities & Exchange Commission. The firm acquired 27,336 shares of the bank's stock, valued at approximately $2,823,000. Public Employees Retirement System of Ohio owned about 0.06% of Texas Capital Bancshares at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TCBI. BlackRock Inc. purchased a new stake in shares of Texas Capital Bancshares in the second quarter worth approximately $578,148,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Texas Capital Bancshares during the 2nd quarter valued at $75,429,000. Norges Bank bought a new position in Texas Capital Bancshares in the 4th quarter valued at $51,728,000. Bank of America Corp DE bought a new position in Texas Capital Bancshares in the 2nd quarter valued at $47,997,000. Finally, Bank of New York Mellon Corp purchased a new stake in Texas Capital Bancshares in the second quarter worth $43,244,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. TD Cowen cut their price target on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating on the stock in a report on Monday, July 27th. Stephens reduced their price target on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Citigroup boosted their price objective on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Finally, Barclays upgraded shares of Texas Capital Bancshares from an "underweight" rating to an "equal weight" rating and set a $100.00 target price on the stock in a research note on Monday, August 3rd. Four equities research 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 data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $105.83.

Texas Capital Bancshares Stock Performance

TCBI stock opened at $98.64 on Friday. Texas Capital Bancshares, Inc. has a 1-year low of $75.41 and a 1-year high of $108.92. The business has a 50-day moving average price of $100.67 and a 200 day moving average price of $99.34. The company has a market capitalization of $4.29 billion, a P/E ratio of 12.83, a PEG 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 (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.01. The company 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 quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 EPS. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. Texas Capital Bancshares's payout ratio is currently 10.40%.

Insider Activity at Texas Capital Bancshares

In related news, insider Ellen Detrich sold 2,045 shares of the stock in a transaction that occurred 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 completion of the sale, the insider 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 link. Also, CEO Rob Holmes sold 49,500 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the sale, the chief executive officer owned 167,635 shares of the company's stock, valued at approximately $16,968,014.70. This represents a 22.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 55,045 shares of company stock valued at $5,568,276 over the last 90 days. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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