54,096 Shares in Texas Capital Bancshares, Inc. $TCBI Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP acquired 54,096 shares of Texas Capital Bancshares during the second quarter, worth approximately $5.6 million. Institutional investors collectively own 96.88% of the bank’s stock.
• Texas Capital Bancshares reported quarterly EPS of $1.88, slightly above analyst estimates, while revenue rose 9.1% year over year to $335.5 million.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 0.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $105.83.

Quantbot Technologies LP bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 54,096 shares of the bank's stock, valued at approximately $5,586,000. Quantbot Technologies LP owned 0.12% of Texas Capital Bancshares as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TCBI. Evolve Private Wealth LLC acquired a new stake in shares of Texas Capital Bancshares during the second quarter worth $497,000. William Blair Investment Management LLC bought a new position in Texas Capital Bancshares during the 2nd quarter worth about $20,799,000. Ieq Capital LLC acquired a new stake in shares of Texas Capital Bancshares in the 2nd quarter valued at about $3,553,000. Heartland Advisors Inc. bought a new stake in shares of Texas Capital Bancshares in the second quarter valued at about $28,992,000. Finally, Allworth Financial LP acquired a new position in shares of Texas Capital Bancshares during the second quarter worth about $136,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Trading Up 0.3%

Texas Capital Bancshares stock opened at $98.30 on Friday. The stock has a 50-day simple moving average of $101.32 and a 200 day simple moving average of $99.76. The stock has a market capitalization of $4.27 billion, a P/E ratio of 12.78, a PEG ratio of 1.20 and a beta of 0.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares, Inc. has a 52 week low of $75.41 and a 52 week high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.87 by $0.01. The company had revenue of $335.50 million during the quarter, compared to analysts' expectations of $333.37 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The business's revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $1.63 earnings per share. Analysts expect that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a 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 Buying and Selling at Texas Capital Bancshares

In related news, insider Ellen Detrich sold 2,045 shares of the company's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the transaction, the insider owned 7,529 shares in the company, valued at approximately $753,125.87. This represents a 21.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rob C. Holmes sold 49,500 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 167,635 shares of the company's stock, valued at $16,968,014.70. This trade represents a 22.80% 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 over the last ninety days. Insiders own 1.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. TD Cowen lowered 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 research note on Monday, July 27th. 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. Wall Street Zen downgraded Texas Capital Bancshares from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Finally, Citigroup upped 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. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of "Hold" and a consensus price target of $105.83.

About Texas Capital Bancshares

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.

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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