Engineers Gate Manager LP Invests $1.26 Million in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Engineers Gate Manager LP acquired 12,167 shares of Texas Capital Bancshares worth approximately $1.26 million, while institutional investors and hedge funds collectively own 96.88% of the company.
• Analyst sentiment remains generally neutral: four analysts rate the stock a Buy, eight a Hold and one a Sell, producing an average rating of Hold and a consensus price target of $105.83.
• Texas Capital Bancshares exceeded quarterly earnings and revenue expectations, reporting $1.88 in EPS and $335.5 million in revenue; it also paid a quarterly dividend of $0.20 per share, representing a 0.8% annualized yield.

Engineers Gate Manager LP acquired a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,167 shares of the bank's stock, valued at approximately $1,256,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Texas Capital Bancshares during the second quarter worth approximately $578,148,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Texas Capital Bancshares during the second quarter worth about $75,429,000. Norges Bank acquired a new stake in Texas Capital Bancshares in the 4th quarter worth about $51,728,000. Bank of America Corp DE acquired a new stake in Texas Capital Bancshares in the 2nd quarter worth about $47,997,000. Finally, Bank of New York Mellon Corp bought a new stake in Texas Capital Bancshares in the 2nd quarter valued at about $43,244,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. TD Cowen cut their price objective on shares of 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. 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 research report on Wednesday, July 1st. Citigroup upped their price target 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. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $105.83.

Insider Activity at Texas Capital Bancshares

In other 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 completion of the sale, the insider owned 7,529 shares in the company, valued at $753,125.87. The trade was a 21.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.91% of the stock is currently owned by company insiders.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $94.48 on Friday. The firm has a market cap of $4.11 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.16 and a beta of 0.66. The firm's fifty day moving average is $99.58 and its 200-day moving average is $99.09. 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, Inc. has a 52 week low of $75.41 and a 52 week 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 for the quarter, beating the consensus estimate 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 company had revenue of $335.50 million during the quarter, compared to analysts' expectations of $333.37 million. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The business's quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts predict that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

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

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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