Faithward Advisors LLC Sells 35,872 Shares of Texas Capital Bancshares, Inc. $TCBI

Key Points

• Faithward Advisors LLC cut its Texas Capital Bancshares position by 79.4% in the fourth quarter, selling 35,872 shares and leaving it with 9,282 shares valued at about $840,000.
• Texas Capital Bancshares reported strong quarterly results, with EPS of $1.58 beating estimates and revenue of $323.99 million also topping expectations; revenue rose 15.5% year over year.
• Sentiment around the stock remains mixed: analysts currently have a Hold consensus with a $104.09 price target, while insiders have also been selling shares in recent months.

Faithward Advisors LLC decreased its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 79.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,282 shares of the bank's stock after selling 35,872 shares during the period. Faithward Advisors LLC's holdings in Texas Capital Bancshares were worth $840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TCBI. Norges Bank bought a new position in shares of Texas Capital Bancshares in the 4th quarter valued at $51,728,000. AQR Capital Management LLC increased its stake in shares of Texas Capital Bancshares by 25.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank's stock valued at $162,229,000 after purchasing an additional 384,748 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Texas Capital Bancshares by 2,707.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank's stock valued at $29,496,000 after purchasing an additional 336,506 shares during the last quarter. Algert Global LLC increased its stake in shares of Texas Capital Bancshares by 731.5% in the 3rd quarter. Algert Global LLC now owns 294,840 shares of the bank's stock valued at $24,923,000 after purchasing an additional 259,380 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Texas Capital Bancshares in the 4th quarter valued at $23,174,000. Institutional investors own 96.88% of the company's stock.

Analyst Ratings Changes

TCBI has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their price target on Texas Capital Bancshares from $110.00 to $114.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Zacks Research lowered Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, May 17th. Piper Sandler boosted their price objective on Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective on Texas Capital Bancshares from $105.00 to $100.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 1st. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $104.09.

Texas Capital Bancshares Stock Up 0.4%

Shares of NASDAQ:TCBI opened at $101.10 on Wednesday. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. The business's 50-day moving average is $100.22 and its 200-day moving average is $97.70. Texas Capital Bancshares, Inc. has a 1 year low of $73.61 and a 1 year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.16. The company had revenue of $323.99 million for the quarter, compared to the consensus estimate of $318.10 million. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.The firm's revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. Equities research analysts predict that Texas Capital Bancshares, Inc. will post 7.63 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Texas Capital Bancshares's payout ratio is currently 10.75%.

Insider Transactions at Texas Capital Bancshares

In other news, CEO Rob C. Holmes sold 49,500 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 167,635 shares of the company's stock, valued at $16,968,014.70. The trade was a 22.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anna M. Alvarado sold 3,500 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were 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 $2,403,619.50. This represents a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 102,100 shares of company stock worth $10,366,023 over the last three months. 1.91% of the stock is owned by company insiders.

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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