Azora Capital LP acquired a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 407,750 shares of the bank's stock, valued at approximately $42,104,000. Texas Capital Bancshares accounts for 1.8% of Azora Capital LP's holdings, making the stock its 21st biggest holding. Azora Capital LP owned 0.94% of Texas Capital Bancshares at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. grew its holdings in shares of Texas Capital Bancshares by 57,777.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 52,090 shares of the bank's stock worth $4,716,000 after purchasing an additional 52,000 shares in the last quarter. Quantinno Capital Management LP raised its stake 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 valued at $3,295,000 after purchasing an additional 25,781 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Texas Capital Bancshares by 13.6% in the first 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. BlackRock Inc. bought a new position in Texas Capital Bancshares in the second quarter worth $578,148,000. Finally, William Blair Investment Management LLC lifted its position in Texas Capital Bancshares by 17.2% in the fourth quarter. William Blair Investment Management LLC now owns 468,000 shares of the bank's stock worth $42,373,000 after purchasing an additional 68,539 shares during the period. Hedge funds and other institutional investors own 96.88% of the company's stock.
Insider Buying and Selling
In other Texas Capital Bancshares news, insider Anna M. Alvarado sold 3,500 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total transaction of $353,325.00. Following the transaction, the insider directly owned 23,810 shares in the company, valued at approximately $2,403,619.50. This represents a 12.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rob C. Holmes sold 49,500 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 167,635 shares in the company, valued at $16,968,014.70. This trade represents a 22.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 104,145 shares of company stock worth $10,570,584 over the last three months. 1.91% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of brokerages have commented on TCBI. Barclays upgraded shares of Texas Capital Bancshares from an "underweight" rating to an "equal weight" rating and set a $100.00 price target for the company in a research note on Monday, August 3rd. Citigroup increased their target price on Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. TD Cowen decreased their price target on Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating on the stock in a research note on Monday, July 27th. Finally, Stephens decreased their price target on 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. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $105.83.
Check Out Our Latest Stock Report on TCBI
Texas Capital Bancshares Trading Down 0.1%
Shares of NASDAQ TCBI opened at $98.54 on Thursday. Texas Capital Bancshares, Inc. has a 1-year low of $75.41 and a 1-year high of $108.92. The company has a 50-day moving average of $101.20 and a two-hundred day moving average of $99.60. The company has a market cap of $4.28 billion, a PE ratio of 12.81, a P/E/G ratio of 1.20 and a beta of 0.68. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15.
Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $335.50 million during 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%. Texas Capital Bancshares's revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.63 EPS. As a group, equities analysts expect that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current fiscal year.
Texas Capital Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 annualized dividend and a yield of 0.8%. Texas Capital Bancshares's dividend payout ratio (DPR) is currently 10.40%.
About Texas Capital Bancshares
(
Free Report)
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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