Fieldview Capital Management LLC Buys 15,848 Shares of Texas Capital Bancshares, Inc. $TCBI

Key Points

• Fieldview Capital Management boosted its stake in Texas Capital Bancshares by 56.1% in the fourth quarter, buying 15,848 more shares and bringing its total to 44,084 shares worth about $4.0 million.
• Texas Capital Bancshares reported better-than-expected quarterly results, with EPS of $1.58 versus $1.42 expected and revenue of $323.99 million versus $318.10 million estimated, while revenue rose 15.5% year over year.
• The company declared a quarterly dividend of $0.20 per share, and insiders have also been selling stock recently, including CEO Rob C. Holmes and insider Anna M. Alvarado.

Fieldview Capital Management LLC increased its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 56.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,084 shares of the bank's stock after purchasing an additional 15,848 shares during the quarter. Fieldview Capital Management LLC owned approximately 0.10% of Texas Capital Bancshares worth $3,991,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in Texas Capital Bancshares by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 263,975 shares of the bank's stock valued at $22,314,000 after acquiring an additional 14,240 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in Texas Capital Bancshares during the 3rd quarter valued at $1,203,000. Cibc World Market Inc. bought a new stake in Texas Capital Bancshares during the 3rd quarter valued at $2,677,000. Picton Mahoney Asset Management bought a new stake in Texas Capital Bancshares during the 3rd quarter valued at $4,299,000. Finally, Jupiter Asset Management Ltd. raised its holdings in Texas Capital Bancshares by 148.8% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 379,331 shares of the bank's stock valued at $32,065,000 after acquiring an additional 226,872 shares during the period. Institutional investors own 96.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TCBI. Citigroup boosted their target price on shares of Texas Capital Bancshares from $88.00 to $96.00 and gave the company a "sell" rating in a report on Tuesday, April 28th. Zacks Research cut shares of Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, May 17th. JPMorgan Chase & Co. lowered their target price on shares of Texas Capital Bancshares from $105.00 to $100.00 and set an "underweight" rating on the stock in a report on Wednesday, April 1st. Finally, Royal Bank Of Canada boosted their target price on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the company a "sector perform" rating in a report on Friday, April 24th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of "Hold" and an average target price of $104.09.

Texas Capital Bancshares Trading Up 1.1%

Texas Capital Bancshares stock opened at $101.51 on Friday. The stock has a market cap of $4.43 billion, a P/E ratio of 13.64, a PEG ratio of 1.44 and a beta of 0.67. Texas Capital Bancshares, Inc. has a fifty-two week low of $73.61 and a fifty-two week high of $108.92. The firm's fifty day moving average price is $100.02 and its 200-day moving average price is $97.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.16. The firm had revenue of $323.99 million for the quarter, compared to analysts' expectations of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The business's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Equities research analysts forecast that Texas Capital Bancshares, Inc. will post 7.63 earnings per share for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Texas Capital Bancshares's dividend payout ratio is presently 10.75%.

Insider Buying and Selling at Texas Capital Bancshares

In other news, CEO Rob C. Holmes sold 49,500 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the transaction, the chief executive officer owned 167,635 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Also, insider Anna M. Alvarado sold 3,500 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total transaction 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 102,100 shares of company stock worth $10,366,023. Insiders own 1.91% of the company's stock.

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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