Arrowstreet Capital Limited Partnership Has $8.85 Million Stake in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Arrowstreet Capital reduced its Texas Capital Bancshares stake by 28.3% in the first quarter, selling 36,779 shares and retaining 93,222 shares valued at approximately $8.85 million. Institutional investors collectively own 96.88% of the company.
• Texas Capital Bancshares exceeded quarterly expectations, reporting $1.88 EPS versus the $1.87 consensus estimate and $335.5 million in revenue, up 9.1% year over year.
• Analysts maintain a generally neutral outlook, with an average “Hold” rating and a $105.83 price target versus the stock’s reported $98.85 price. The company also declared a quarterly dividend of $0.20 per share, yielding 0.8% annually.

Arrowstreet Capital Limited Partnership lowered its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 28.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,222 shares of the bank's stock after selling 36,779 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.21% of Texas Capital Bancshares worth $8,845,000 as of its most recent SEC filing.

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

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares 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 sale, the chief executive officer directly owned 167,635 shares in the company, valued at approximately $16,968,014.70. The trade was a 22.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anna M. Alvarado sold 3,500 shares of Texas Capital Bancshares 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 in the company, valued at approximately $2,403,619.50. This represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 104,145 shares of company stock valued at $10,570,584 over the last 90 days. 1.91% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TCBI. Fundamental Research set a $110.00 price objective on shares of Texas Capital Bancshares in a research note on Wednesday, July 1st. Piper Sandler lifted their target price 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. Citigroup boosted 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. Royal Bank Of Canada increased their price target on Texas Capital Bancshares from $110.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. Finally, Stephens dropped their price target on Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Texas Capital Bancshares has an average rating of "Hold" and an average price target of $105.83.

Texas Capital Bancshares Stock Up 0.1%

Shares of TCBI opened at $98.85 on Friday. The business's fifty day moving average price is $101.36 and its two-hundred day moving average price is $99.60. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.21 and a beta of 0.67. Texas Capital Bancshares, Inc. has a 52 week low of $75.41 and a 52 week high of $108.92. 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 (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $333.37 million. During the same quarter last year, the firm earned $1.63 EPS. The company's revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts predict that Texas Capital Bancshares, Inc. will post 7.33 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares's dividend payout ratio is 10.40%.

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.

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