Edgestream Partners L.P. Acquires Shares of 70,513 Texas Capital Bancshares, Inc. $TCBI

Key Points

• Edgestream Partners acquired 70,513 shares of Texas Capital Bancshares worth approximately $6.69 million, while institutional investors collectively own 96.88% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $105.83; targets range from $106 to $114, while one analyst downgraded the stock to “Sell.”
• Texas Capital Bancshares exceeded quarterly earnings and revenue estimates, reporting $1.88 EPS and $335.5 million in revenue, and announced a quarterly dividend of $0.20 per share. Meanwhile, insiders sold more than 104,000 shares worth approximately $10.57 million over the past 90 days.

Edgestream Partners L.P. bought a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 70,513 shares of the bank's stock, valued at approximately $6,690,000. Edgestream Partners L.P. owned 0.16% of Texas Capital Bancshares as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TCBI. Norges Bank bought a new position in Texas Capital Bancshares in the fourth quarter valued at about $51,728,000. AQR Capital Management LLC increased its position in Texas Capital Bancshares by 25.1% in the third quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank's stock worth $162,229,000 after purchasing an additional 384,748 shares during the period. Balyasny Asset Management L.P. raised its holdings in Texas Capital Bancshares by 2,707.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank's stock worth $29,496,000 after purchasing an additional 336,506 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Texas Capital Bancshares during the 4th quarter worth about $23,174,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Texas Capital Bancshares during the 1st quarter valued at about $18,391,000. Institutional investors own 96.88% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Stephens reduced their target price on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. TD Cowen dropped their price target on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating for the company in a research note on Monday. Wall Street Zen cut shares of Texas Capital Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Fundamental Research set a $110.00 price objective on shares of Texas Capital Bancshares in a research note on Wednesday, July 1st. Finally, Royal Bank Of Canada lifted their target price on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the stock a "sector perform" rating in a report on Friday, April 24th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $105.83.

Insider Buying and Selling at Texas Capital Bancshares

In related news, insider Anna M. Alvarado sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total value of $353,325.00. Following the completion of the transaction, the insider directly owned 23,810 shares in the company, valued at approximately $2,403,619.50. The trade was a 12.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rob C. Holmes sold 49,500 shares of the 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 sale, the chief executive officer directly owned 167,635 shares of the company's stock, valued at approximately $16,968,014.70. The trade was a 22.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 104,145 shares of company stock valued at $10,570,584. Company insiders own 1.91% of the company's stock.

Texas Capital Bancshares Trading Up 0.3%

Shares of NASDAQ TCBI opened at $98.74 on Friday. The company's fifty day moving average is $101.37 and its 200-day moving average is $99.61. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 1.21 and a beta of 0.67. Texas Capital Bancshares, Inc. has a twelve month low of $75.41 and a twelve month high of $108.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.01. The company had revenue of $335.50 million during the quarter, compared to analyst estimates of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The firm's revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. Equities research analysts predict that Texas Capital Bancshares, Inc. will post 7.33 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

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

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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