43,542 Shares in Texas Capital Bancshares, Inc. $TCBI Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 43,542 shares of Texas Capital Bancshares worth approximately $4.5 million, while institutional investors collectively owned 96.88% of the company.
• Analysts maintain a broadly neutral outlook, with a consensus “Hold” rating and an average price target of $105.83. Recent targets range from $107 to $112, while one research firm downgraded the stock to “Sell.”
• Texas Capital Bancshares exceeded quarterly earnings and revenue estimates, reporting $1.88 in EPS and $335.5 million in revenue, up 9.1% year over year. The company also declared a quarterly dividend of $0.20 per share, representing a 0.8% annualized yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,542 shares of the bank's stock, valued at approximately $4,496,000. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Texas Capital Bancshares at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Texas Capital Bancshares in the second quarter valued at $578,148,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of 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 worth $305,743,000 after buying an additional 43,003 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Texas Capital Bancshares by 16.4% during the 4th quarter. AQR Capital Management LLC now owns 2,234,678 shares of the bank's stock worth $202,328,000 after buying an additional 315,484 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Texas Capital Bancshares by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank's stock worth $108,436,000 after buying an additional 33,709 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Texas Capital Bancshares during the second quarter worth approximately $75,429,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on TCBI. Stephens decreased their target price on Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price target on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an "underweight" rating in a report on Wednesday, July 1st. Citigroup boosted their price target on Texas Capital Bancshares from $105.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Wall Street Zen lowered Texas Capital Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Finally, Fundamental Research set a $110.00 price objective on Texas Capital Bancshares in a report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $105.83.

Insiders Place Their Bets

In other news, CEO Rob C. Holmes sold 49,500 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the completion of the sale, the chief executive officer directly owned 167,635 shares in the company, valued at approximately $16,968,014.70. This represents a 22.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ellen Detrich sold 2,045 shares of the stock in a transaction 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 sale, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,145 shares of company stock worth $10,570,584 in the last 90 days. Company insiders own 1.91% of the company's stock.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $98.10 on Friday. The firm has a 50-day moving average price of $101.18 and a two-hundred day moving average price of $99.56. Texas Capital Bancshares, Inc. has a 12-month low of $75.41 and a 12-month high of $108.92. The company has a market capitalization of $4.26 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.20 and a beta of 0.68. 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 (NASDAQ:TCBI - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, topping the consensus estimate of $1.87 by $0.01. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The company had revenue of $335.50 million for the quarter, compared to analysts' expectations of $333.37 million. During the same period last year, the firm earned $1.63 earnings per share. The business's revenue for the quarter was up 9.1% on a year-over-year basis. Analysts anticipate that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. Texas Capital Bancshares's dividend payout ratio is currently 10.40%.

Texas Capital Bancshares 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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