Alyeska Investment Group L.P. lowered its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 80.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 100,266 shares of the bank's stock after selling 400,862 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.23% of Texas Capital Bancshares worth $10,353,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Texas Capital Bancshares during the 2nd quarter valued at approximately $578,148,000. T. Rowe Price Investment Management Inc. grew its holdings 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 acquiring an additional 43,003 shares during the period. AQR Capital Management LLC raised its position in shares of Texas Capital Bancshares by 16.4% in the 4th quarter. AQR Capital Management LLC now owns 2,234,678 shares of the bank's stock worth $202,328,000 after acquiring an additional 315,484 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Texas Capital Bancshares by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank's stock valued at $108,436,000 after purchasing an additional 33,709 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Texas Capital Bancshares in the 2nd quarter valued at approximately $75,429,000. 96.88% of the stock is currently owned by institutional investors.
Texas Capital Bancshares Price Performance
Shares of NASDAQ TCBI opened at $97.18 on Tuesday. The firm has a market cap of $4.22 billion, a P/E ratio of 12.64, a PEG ratio of 1.20 and a beta of 0.68. Texas Capital Bancshares, Inc. has a twelve month low of $75.41 and a twelve month high of $108.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $101.12 and a 200 day moving average of $99.47.
Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.01. The business had revenue of $335.50 million during the quarter, compared to the consensus estimate 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 revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS. As a group, research analysts expect that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current fiscal year.
Texas Capital Bancshares Announces Dividend
The company also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares's dividend payout ratio is 10.40%.
Analysts Set New Price Targets
Several research analysts recently issued reports on TCBI shares. Fundamental Research set a $110.00 price target on shares of Texas Capital Bancshares in a research note on Wednesday, July 1st. Citigroup boosted their price objective on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. Stephens decreased their target price on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. Finally, Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday. Four research 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $105.83.
Check Out Our Latest Stock Analysis on Texas Capital Bancshares
Insider Activity at Texas Capital Bancshares
In other Texas Capital Bancshares news, insider Ellen Detrich sold 2,045 shares of the business's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $100.03, for a total transaction of $204,561.35. Following the completion of the sale, the insider directly owned 7,529 shares in the company, valued at $753,125.87. The trade was a 21.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 104,145 shares of company stock worth $10,570,584. 1.91% of the stock is owned by insiders.
Texas Capital Bancshares Company Profile
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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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