Barrow Hanley Mewhinney & Strauss LLC Acquires New Holdings in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Barrow Hanley Mewhinney & Strauss LLC acquired 730,479 shares of Texas Capital Bancshares during the second quarter, valued at approximately $75.4 million and representing about 1.68% of the company. Institutional investors collectively own 96.88% of the stock.
• Texas Capital Bancshares exceeded quarterly expectations, reporting $1.88 in EPS versus the $1.87 consensus and revenue of $335.5 million, up 9.1% year over year. Analysts maintain a consensus “Hold” rating with a $105.83 price target.
• The company declared a quarterly dividend of $0.20 per share, equivalent to $0.80 annually and a 0.8% yield. Meanwhile, insiders sold 104,145 shares worth roughly $10.6 million over the past 90 days.

Barrow Hanley Mewhinney & Strauss LLC bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 730,479 shares of the bank's stock, valued at approximately $75,429,000. Barrow Hanley Mewhinney & Strauss LLC owned about 1.68% of Texas Capital Bancshares at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TCBI. Commerce Bank bought a new stake in shares of Texas Capital Bancshares in the second quarter worth $582,000. Quantbot Technologies LP purchased a new stake in shares of Texas Capital Bancshares during the 2nd quarter valued at about $5,586,000. Evolve Private Wealth LLC purchased a new stake in shares of Texas Capital Bancshares during the 2nd quarter valued at about $497,000. William Blair Investment Management LLC bought a new position in shares of Texas Capital Bancshares in the 2nd quarter worth approximately $20,799,000. Finally, Ieq Capital LLC bought a new position in shares of Texas Capital Bancshares in the 2nd quarter worth approximately $3,553,000. Institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $98.30 on Monday. The company has a market capitalization of $4.27 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.20 and a beta of 0.68. Texas Capital Bancshares, Inc. has a 1-year low of $75.41 and a 1-year high of $108.92. The firm's 50 day simple moving average is $101.32 and its two-hundred day simple moving average is $99.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. 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 company posted $1.63 earnings per share. Research analysts expect that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current fiscal year.

Texas Capital Bancshares Announces Dividend

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 paid a $0.20 dividend. 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 presently 10.40%.

Insider Buying and Selling at Texas Capital Bancshares

In other news, CEO Rob C. Holmes sold 49,500 shares of the company's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $101.22, for a total value of $5,010,390.00. Following the completion of the transaction, the chief executive officer owned 167,635 shares of the company's stock, valued at $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Anna M. Alvarado sold 3,500 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total value of $353,325.00. Following the sale, the insider owned 23,810 shares of the company's stock, valued at $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 ninety days. 1.91% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Stephens cut 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 report on Thursday, July 23rd. Citigroup upped their price objective on Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. TD Cowen decreased their target price on Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating on the stock in a report on Monday, July 27th. Barclays upgraded 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. Finally, JPMorgan Chase & Co. upped their price target on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $105.83.

Texas Capital Bancshares Profile

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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