Hillsdale Investment Management Inc. Increases Position in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Hillsdale Investment Management dramatically increased its stake in Texas Capital Bancshares in the fourth quarter, boosting holdings by 57,777.8% to 52,090 shares valued at about $4.7 million.
• Texas Capital Bancshares reported better-than-expected quarterly results, with EPS of $1.58 versus the $1.42 consensus estimate and revenue of $323.99 million, up 15.5% year over year.
• The company also announced a quarterly dividend of $0.20 per share, payable June 15, while analysts currently hold a consensus rating of “Hold” with an average price target of $104.09.

Hillsdale Investment Management Inc. boosted its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 57,777.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,090 shares of the bank's stock after acquiring an additional 52,000 shares during the period. Hillsdale Investment Management Inc. owned 0.11% of Texas Capital Bancshares worth $4,716,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TCBI. AQR Capital Management LLC grew its stake in Texas Capital Bancshares by 25.1% during the 3rd quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank's stock valued at $162,229,000 after acquiring an additional 384,748 shares in the last quarter. Balyasny Asset Management L.P. grew its stake 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 valued at $29,496,000 after acquiring an additional 336,506 shares in the last quarter. Algert Global LLC grew its stake in Texas Capital Bancshares by 731.5% during the 3rd quarter. Algert Global LLC now owns 294,840 shares of the bank's stock valued at $24,923,000 after acquiring an additional 259,380 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake 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 in the last quarter. Finally, UBS Group AG grew its stake in Texas Capital Bancshares by 56.8% during the 3rd quarter. UBS Group AG now owns 403,692 shares of the bank's stock valued at $34,124,000 after acquiring an additional 146,181 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $99.49 on Friday. 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 firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.41 and a beta of 0.68. The company's 50-day moving average is $98.70 and its two-hundred day moving average is $96.45. Texas Capital Bancshares, Inc. has a 1-year low of $70.11 and a 1-year high of $108.92.

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

Texas Capital Bancshares Dividend Announcement

The business also recently disclosed 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. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, June 1st.

Insider Activity at Texas Capital Bancshares

In related news, Director Paola M. Arbour acquired 1,000 shares of the firm's stock in a transaction dated Wednesday, March 11th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $91,500.00. Following the acquisition, the director owned 6,671 shares in the company, valued at $610,396.50. The trade was a 17.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Stallings acquired 20,000 shares of the firm's stock in a transaction dated Thursday, March 5th. The stock was bought at an average price of $22.69 per share, for a total transaction of $453,800.00. Following the completion of the acquisition, the director owned 169,587 shares in the company, valued at approximately $3,847,929.03. The trade was a 13.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 26,500 shares of company stock worth $670,700. Company insiders own 1.91% of the company's stock.

Wall Street Analyst Weigh In

TCBI has been the topic of several recent analyst reports. Piper Sandler boosted their target price on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, April 24th. 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. JPMorgan Chase & Co. decreased 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. Zacks Research lowered shares of Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. 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 equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Texas Capital Bancshares has an average rating of "Hold" and a consensus price target of $104.09.

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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