Bank of New York Mellon Corp Takes Position in Texas Capital Bancshares, Inc. $TCBI

Bank of New York Mellon Corp bought a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 418,787 shares of the bank's stock, valued at approximately $43,244,000. Bank of New York Mellon Corp owned 0.96% of Texas Capital Bancshares at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TCBI. Focus Partners Advisor Solutions LLC purchased a new position in Texas Capital Bancshares during the 2nd quarter valued at approximately $301,000. State of Wyoming purchased a new stake in Texas Capital Bancshares in the 2nd quarter worth about $73,000. GSA Capital Partners LLP bought a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $732,000. FNY Investment Advisers LLC purchased a new stake in shares of Texas Capital Bancshares during the second quarter valued at $51,000. Finally, Bank of America Corp DE raised its stake in shares of Texas Capital Bancshares by 13.6% during the first quarter. Bank of America Corp DE now owns 378,515 shares of the bank's stock valued at $35,914,000 after acquiring an additional 45,220 shares in the last quarter. Institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Trading Down 0.4%

Shares of TCBI opened at $98.10 on Friday. The stock has a market cap of $4.26 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.20 and a beta of 0.68. Texas Capital Bancshares, Inc. has a 52-week low of $75.41 and a 52-week high of $108.92. The firm's fifty day moving average is $101.18 and its two-hundred day moving average is $99.56. 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 released its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 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 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%. Texas Capital Bancshares's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 EPS. Research analysts forecast that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

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 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares's dividend payout ratio (DPR) is presently 10.40%.

Insider Transactions at Texas Capital Bancshares

In other news, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, June 8th. The shares were 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 approximately $16,968,014.70. The trade was a 22.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anna M. Alvarado sold 3,500 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 23,810 shares in the company, valued at approximately $2,403,619.50. This trade represents a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 104,145 shares of company stock worth $10,570,584 in the last 90 days. Insiders own 1.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TCBI. Stephens decreased their price objective 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. Barclays raised Texas Capital Bancshares from an "underweight" rating to an "equal weight" rating and set a $100.00 target price on the stock in a research report on Monday, August 3rd. Citigroup raised their price target on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Wall Street Zen downgraded Texas Capital Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Finally, TD Cowen cut their price target on Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating on the stock in a research report on Monday, July 27th. 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's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.

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