First Trust Advisors LP Grows Position in Texas Capital Bancshares, Inc. $TCBI

Key Points

• First Trust Advisors LP increased its Texas Capital Bancshares position by 151% in the first quarter to 71,580 shares valued at approximately $6.8 million. Institutional investors collectively own 96.88% of the company.
• Analyst sentiment remains mixed, with four Buy, seven Hold, and two Sell ratings; the stock has an average rating of Hold and an average price target of $105.83.
• Texas Capital Bancshares slightly beat quarterly earnings expectations, reporting $1.88 in EPS and $335.5 million in revenue, while revenue rose 9.1% year over year. The company also declared a quarterly dividend of $0.20 per share, yielding about 0.8% annually.

First Trust Advisors LP lifted its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 151.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,580 shares of the bank's stock after purchasing an additional 43,065 shares during the period. First Trust Advisors LP owned about 0.16% of Texas Capital Bancshares worth $6,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. grew its position in shares of Texas Capital Bancshares by 57,777.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 52,090 shares of the bank's stock valued at $4,716,000 after acquiring an additional 52,000 shares during the period. William Blair Investment Management LLC increased its stake in shares of Texas Capital Bancshares by 17.2% in the 4th quarter. William Blair Investment Management LLC now owns 468,000 shares of the bank's stock valued at $42,373,000 after purchasing an additional 68,539 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Texas Capital Bancshares by 2.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 847,583 shares of the bank's stock valued at $76,740,000 after purchasing an additional 18,258 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc raised its holdings in Texas Capital Bancshares by 39.9% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 349,089 shares of the bank's stock worth $31,607,000 after purchasing an additional 99,482 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in Texas Capital Bancshares during the first quarter worth approximately $1,214,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TCBI has been the topic of several research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. TD Cowen reduced their target price 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. Stephens decreased their target price on Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. Royal Bank Of Canada lifted their price target on shares of 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. Finally, Citigroup boosted 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. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and an average target price of $105.83.

Insider Buying and Selling

In related news, insider Anna M. Alvarado sold 3,500 shares of the stock in a transaction 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 of the company's stock, valued at approximately $2,403,619.50. This represents a 12.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellen Detrich sold 2,045 shares of the firm's 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 transaction, 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 104,145 shares of company stock worth $10,570,584. 1.91% of the stock is owned by corporate insiders.

Texas Capital Bancshares Stock Performance

TCBI stock opened at $98.85 on Monday. Texas Capital Bancshares, Inc. has a 12-month low of $75.41 and a 12-month high of $108.92. The business's 50-day moving average is $101.36 and its 200 day moving average is $99.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.21 and a beta of 0.68.

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

Texas Capital Bancshares Dividend Announcement

The company 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares's payout ratio is presently 10.40%.

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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