California State Teachers Retirement System Has $5.57 Million Stake in Texas Capital Bancshares, Inc. $TCBI

Key Points

• California State Teachers Retirement System reduced its Texas Capital Bancshares stake by 2.7% in the second quarter, retaining 53,925 shares worth approximately $5.57 million. Institutional investors collectively own 96.88% of the company.
• Texas Capital Bancshares exceeded quarterly earnings expectations, reporting $1.88 in EPS and $335.5 million in revenue, with revenue up 9.1% year over year.
• The stock traded at $97.64, while analysts maintained an overall “Hold” rating with an average price target of $105.83. The company also announced a quarterly dividend of $0.20 per share, yielding approximately 0.8%.

California State Teachers Retirement System lowered its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,925 shares of the bank's stock after selling 1,484 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Texas Capital Bancshares worth $5,568,296 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Root Financial Partners LLC increased its stake in Texas Capital Bancshares by 85.2% during the first quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock worth $31,000 after acquiring an additional 150 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Texas Capital Bancshares in the second quarter valued at $34,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Texas Capital Bancshares in the 4th quarter valued at $36,000. FNY Investment Advisers LLC purchased a new stake in Texas Capital Bancshares during the second quarter worth about $51,000. Finally, Westpac Banking Corp acquired a new position in Texas Capital Bancshares in the first quarter valued at $58,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Price Performance

TCBI traded down $0.80 on Tuesday, reaching $97.64. The stock had a trading volume of 240,509 shares, compared to its average volume of 476,281. Texas Capital Bancshares, Inc. has a fifty-two week low of $75.41 and a fifty-two week high of $108.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.21 and a beta of 0.66. The firm has a 50-day moving average of $100.00 and a 200-day moving average of $99.15.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, beating the consensus estimate of $1.87 by $0.01. The firm 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%. The business's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $1.63 EPS. As a group, sell-side analysts anticipate that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

The company also recently announced 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 yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares's payout ratio is presently 10.40%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TCBI. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. Fundamental Research set a $110.00 target price on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. Stephens lowered their target price on Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. Citigroup upped their target price 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. Finally, TD Cowen reduced their price target on Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating for the company in a report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $105.83.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, insider Ellen Detrich sold 2,045 shares of Texas Capital Bancshares stock in a transaction 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 transaction, the insider directly owned 7,529 shares in the company, valued at approximately $753,125.87. The trade was a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.91% of the company's stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank provides banking, lending and financial services to businesses, entrepreneurs, professionals, high-net-worth individuals and institutional clients.

Its offerings include commercial and industrial lending, commercial real estate financing, treasury management, private banking, wealth management, investment banking and capital markets services.

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