Deutsche Bank AG Takes Position in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Deutsche Bank initiated a position in Texas Capital Bancshares, buying 46,962 shares worth approximately $4.85 million. Institutional investors collectively own 96.88% of the company.
• Texas Capital Bancshares reported quarterly EPS of $1.88, slightly ahead of estimates, while revenue rose 9.1% year over year to $335.5 million. The company also declared a quarterly dividend of $0.20 per share.
• Insiders sold 104,145 shares worth about $10.6 million over the past three months. Analysts maintain a consensus “Hold” rating, with an average price target of $105.83 versus the stock’s reported price of $98.59.

Deutsche Bank AG bought a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 46,962 shares of the bank's stock, valued at approximately $4,849,000. Deutsche Bank AG owned approximately 0.11% of Texas Capital Bancshares at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in Texas Capital Bancshares in the second quarter valued at approximately $256,000. Bank of New York Mellon Corp acquired a new position in shares of Texas Capital Bancshares during the second quarter worth approximately $43,244,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Texas Capital Bancshares in the 2nd quarter worth $301,000. State of Wyoming bought a new position in shares of Texas Capital Bancshares in the 2nd quarter worth $73,000. Finally, GSA Capital Partners LLP acquired a new stake in Texas Capital Bancshares in the 2nd quarter valued at $732,000. Institutional investors own 96.88% of the company's stock.

Insider Buying and Selling

In related news, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction on Monday, June 8th. The stock was sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the sale, the chief executive officer directly owned 167,635 shares in the company, valued at approximately $16,968,014.70. This trade represents a 22.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ellen Detrich sold 2,045 shares of the business's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $100.03, for a total value of $204,561.35. Following the completion of the transaction, the insider directly owned 7,529 shares in the company, valued at approximately $753,125.87. This represents a 21.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 104,145 shares of company stock worth $10,570,584. 1.91% of the stock is owned by company insiders.

Texas Capital Bancshares Stock Up 0.6%

Texas Capital Bancshares stock opened at $98.59 on Wednesday. Texas Capital Bancshares, Inc. has a fifty-two week low of $75.41 and a fifty-two week high of $108.92. The stock has a market cap of $4.29 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.19 and a beta of 0.68. The firm's 50-day simple moving average is $101.21 and its 200 day simple moving average is $99.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $335.50 million during the quarter, compared to analyst estimates of $333.37 million. During the same quarter last year, the business posted $1.63 EPS. The company's revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts predict 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. Investors of record on Tuesday, September 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis 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 (DPR) is presently 10.40%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TCBI. Citigroup upped their price objective on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Stephens decreased 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. Fundamental Research set a $110.00 target price on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. JPMorgan Chase & Co. raised their price target 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. Finally, TD Cowen cut their price target on Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating for the company in a research note on Monday, July 27th. 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 company. According to data from MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of "Hold" and a consensus target price of $105.83.

Texas Capital Bancshares Company 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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