Corient Private Wealth LP Purchases New Stake in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Corient Private Wealth purchased 21,421 shares of Texas Capital Bancshares in the second quarter, valued at approximately $2.2 million. Institutional investors collectively own 96.88% of the bank’s stock.
• 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 company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 0.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $105.83.

Corient Private Wealth LP purchased a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 21,421 shares of the bank's stock, valued at approximately $2,212,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Evolve Private Wealth LLC raised its position in shares of Texas Capital Bancshares by 1.7% in the first quarter. Evolve Private Wealth LLC now owns 5,987 shares of the bank's stock valued at $568,000 after purchasing an additional 98 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Texas Capital Bancshares by 2.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,079 shares of the bank's stock worth $550,000 after buying an additional 135 shares during the period. Root Financial Partners LLC grew its stake in Texas Capital Bancshares by 85.2% in the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock valued at $31,000 after buying an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Texas Capital Bancshares by 14.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank's stock valued at $143,000 after acquiring an additional 189 shares during the period. Finally, Inspire Investing LLC raised its holdings in Texas Capital Bancshares by 5.0% in the 1st quarter. Inspire Investing LLC now owns 5,399 shares of the bank's stock valued at $512,000 after acquiring an additional 259 shares during the period. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Stock Up 1.1%

NASDAQ TCBI opened at $96.68 on Thursday. 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 cap of $4.20 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.16 and a beta of 0.66. The company has a 50 day moving average of $100.88 and a 200-day moving average of $99.38. Texas Capital Bancshares, Inc. has a 1-year low of $75.41 and a 1-year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued 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 return on equity of 10.86% and a net margin of 17.90%.The business had revenue of $335.50 million for the quarter, compared to the consensus estimate of $333.37 million. During the same quarter in the prior year, the business posted $1.63 earnings per share. The firm's quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Capital Bancshares's dividend payout ratio is 10.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TCBI shares. TD Cowen reduced their price objective 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. 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 report on Thursday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Citigroup upped their price objective on Texas Capital Bancshares from $105.00 to $107.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Finally, Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $105.83.

Insider Buying and Selling

In related 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 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 document filed with the SEC, which is available through the SEC website. 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 transaction of $353,325.00. Following the sale, the insider owned 23,810 shares in the company, valued at $2,403,619.50. The trade was a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over 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.

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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