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Allspring Global Investments Holdings LLC Purchases New Position in Texas Capital Bancshares, Inc. $TCBI

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Key Points

  • Allspring Global Investments opened a new position in Texas Capital Bancshares during the first quarter, buying 111,788 shares worth about $10.7 million and ending with roughly 0.26% ownership.
  • Texas Capital Bancshares beat second-quarter expectations, reporting EPS of $1.88 versus $1.87 expected and revenue of $335.5 million versus $333.4 million expected, with revenue up 9.1% year over year.
  • Despite the strong results, the stock has seen mixed signals from Wall Street and insiders: analysts currently rate it Hold on average, while CEO Rob C. Holmes and other insiders sold shares in recent months.
  • Five stocks we like better than Texas Capital Bancshares.

Allspring Global Investments Holdings LLC acquired a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 111,788 shares of the bank's stock, valued at approximately $10,712,000. Allspring Global Investments Holdings LLC owned approximately 0.26% of Texas Capital Bancshares at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Danske Bank A S acquired a new position in shares of Texas Capital Bancshares during the third quarter worth $25,000. Farther Finance Advisors LLC boosted its holdings in shares of Texas Capital Bancshares by 1,381.8% during the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank's stock valued at $30,000 after acquiring an additional 304 shares in the last quarter. Root Financial Partners LLC grew its position in Texas Capital Bancshares by 85.2% during the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock worth $31,000 after acquiring an additional 150 shares during the last quarter. Advisory Services Network LLC bought a new stake in Texas Capital Bancshares during the 3rd quarter worth $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Texas Capital Bancshares by 169.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank's stock worth $35,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Trading Down 0.7%

Shares of TCBI stock opened at $102.91 on Thursday. Texas Capital Bancshares, Inc. has a fifty-two week low of $75.41 and a fifty-two week high of $108.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day simple moving average of $101.23 and a two-hundred day simple moving average of $99.46. The company has a market cap of $4.49 billion, a P/E ratio of 13.83, a PEG ratio of 1.49 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.87 by $0.01. The firm had revenue of $335.50 million for the quarter, compared to analysts' expectations of $333.37 million. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.The company's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 EPS. Research analysts forecast that Texas Capital Bancshares, Inc. will post 7.56 earnings per share for the current year.

More Texas Capital Bancshares News

Here are the key news stories impacting Texas Capital Bancshares this week:

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, CEO Rob C. Holmes sold 49,500 shares of the firm's 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 completion of the sale, the chief executive officer directly owned 167,635 shares in the company, valued at approximately $16,968,014.70. This trade represents a 22.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anna M. Alvarado sold 3,500 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total value of $353,325.00. Following the completion of the sale, the insider directly owned 23,810 shares of the company's stock, valued at $2,403,619.50. The trade was a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 102,100 shares of company stock worth $10,366,023. 1.91% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TCBI shares. Zacks Research downgraded Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Wall Street Zen lowered shares of Texas Capital Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Citigroup upgraded shares of Texas Capital Bancshares from a "sell" rating to a "neutral" rating and upped their price target for the company from $96.00 to $105.00 in a research report on Tuesday, June 30th. Piper Sandler raised their price target on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Finally, Fundamental Research set a $110.00 price target on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $106.17.

View Our Latest Stock Analysis on Texas Capital Bancshares

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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Institutional Ownership by Quarter for Texas Capital Bancshares (NASDAQ:TCBI)

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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