Beacon Pointe Advisors LLC Buys Shares of 15,247 Texas Capital Bancshares, Inc. $TCBI

Key Points

• Beacon Pointe Advisors initiated a position in Texas Capital Bancshares, buying 15,247 shares valued at approximately $1.57 million. Institutional investors collectively own 96.88% of the company.
• Texas Capital Bancshares reported quarterly EPS of $1.88, slightly exceeding estimates, while revenue rose 9.1% year over year to $335.5 million. Analysts expect full-year EPS of $7.39.
• The company declared a quarterly dividend of $0.20 per share, representing an annualized payout of $0.80 and a 0.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $105.83.

Beacon Pointe Advisors LLC purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,247 shares of the bank's stock, valued at approximately $1,574,000.

A number of other institutional investors also recently made changes to their positions in the stock. Danske Bank A S bought a new stake in Texas Capital Bancshares during the third quarter worth approximately $25,000. Farther Finance Advisors LLC boosted its stake in 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 purchasing an additional 304 shares in the last quarter. Root Financial Partners LLC boosted its stake in Texas Capital Bancshares by 85.2% during the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock valued at $31,000 after purchasing an additional 150 shares in the last quarter. Advisory Services Network LLC bought a new position in Texas Capital Bancshares during the 3rd quarter valued at $32,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Texas Capital Bancshares during the 4th quarter valued at $36,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Stock Performance

TCBI opened at $98.64 on Monday. 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 firm has a market cap of $4.29 billion, a PE ratio of 12.83, a P/E/G ratio of 1.20 and a beta of 0.68. The business has a fifty day simple moving average of $101.17 and a 200-day simple moving average of $99.51. Texas Capital Bancshares, Inc. has a fifty-two week low of $75.41 and a fifty-two week high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its 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. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The company had revenue of $335.50 million for the quarter, compared to analyst estimates of $333.37 million. During the same period in the previous year, the firm earned $1.63 earnings per share. Texas Capital Bancshares's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities analysts predict that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. Texas Capital Bancshares's dividend payout ratio (DPR) is currently 10.40%.

Insiders Place Their Bets

In other Texas Capital Bancshares news, CEO Rob C. Holmes sold 49,500 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 167,635 shares of the company's stock, valued at approximately $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anna M. Alvarado sold 3,500 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total transaction of $353,325.00. Following the completion of the transaction, the insider owned 23,810 shares of the company's stock, valued at approximately $2,403,619.50. The trade was a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 104,145 shares of company stock worth $10,570,584. Company insiders own 1.91% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TCBI shares. Stephens cut 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 report on Monday, August 3rd. Citigroup boosted their price target on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Fundamental Research set a $110.00 price target on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the company an "underweight" rating in a research report on Wednesday, July 1st. Four equities 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 MarketBeat, the stock has an average 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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