BlackRock Inc. purchased a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,598,956 shares of the bank's stock, valued at approximately $578,148,000. BlackRock Inc. owned about 12.88% of Texas Capital Bancshares as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of TCBI. Danske Bank A S bought a new position in shares of Texas Capital Bancshares during the third quarter valued at about $25,000. Farther Finance Advisors LLC grew its stake in shares of Texas Capital Bancshares by 1,381.8% in the fourth quarter. Farther Finance Advisors LLC now owns 326 shares of the bank's stock worth $30,000 after purchasing an additional 304 shares during the last quarter. Root Financial Partners LLC grew its stake in shares of Texas Capital Bancshares by 85.2% in the first quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock worth $31,000 after purchasing an additional 150 shares during the last quarter. Advisory Services Network LLC purchased a new position in Texas Capital Bancshares during the 3rd quarter valued at about $32,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Texas Capital Bancshares during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 96.88% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on TCBI. TD Cowen lowered their price target on Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating for the company in a research report on Monday, July 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an "underweight" rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded Texas Capital Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. 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 research note on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $105.83.
Check Out Our Latest Research Report on TCBI
Texas Capital Bancshares Price Performance
Shares of NASDAQ TCBI opened at $98.30 on Monday. Texas Capital Bancshares, Inc. has a 1 year low of $75.41 and a 1 year high of $108.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00. The company's 50-day moving average is $101.32 and its 200 day moving average is $99.74. The stock 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 (NASDAQ:TCBI - Get Free Report) last released its quarterly 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 net margin of 17.90% and a return on equity of 10.86%. The company had revenue of $335.50 million during the quarter, compared to the consensus estimate of $333.37 million. During the same period in the prior year, the firm earned $1.63 earnings per share. Texas Capital Bancshares's revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts expect that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current year.
Texas Capital Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Texas Capital Bancshares's dividend payout ratio is currently 10.40%.
Insider Transactions at Texas Capital Bancshares
In other news, CEO Rob C. Holmes sold 49,500 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $16,968,014.70. This trade represents a 22.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ellen Detrich sold 2,045 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the sale, the insider owned 7,529 shares in the company, valued at $753,125.87. This represents a 21.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 104,145 shares of company stock valued at $10,570,584. Corporate insiders own 1.91% of the company's stock.
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.
Further Reading
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