Jupiter Asset Management Ltd. Sells 76,966 Shares of Texas Capital Bancshares, Inc. $TCBI

Key Points

• Jupiter Asset Management cut its Texas Capital Bancshares stake by 20.3% in the fourth quarter, selling 76,966 shares and ending with 302,365 shares worth about $27.4 million.
• Analysts are mixed on TCBI: the stock has a consensus Hold rating with an average price target of $104.09, after several firms adjusted ratings and price objectives.
• Texas Capital Bancshares reported solid quarterly results, beating EPS and revenue estimates, and also declared a quarterly dividend of $0.20 per share payable June 15.

Jupiter Asset Management Ltd. lessened its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 20.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 302,365 shares of the bank's stock after selling 76,966 shares during the period. Jupiter Asset Management Ltd. owned about 0.66% of Texas Capital Bancshares worth $27,376,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TCBI. AQR Capital Management LLC raised its stake in Texas Capital Bancshares by 25.1% in the third quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank's stock worth $162,229,000 after buying an additional 384,748 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Texas Capital Bancshares by 2,707.2% in the third quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank's stock worth $29,496,000 after buying an additional 336,506 shares in the last quarter. Algert Global LLC raised its stake in Texas Capital Bancshares by 731.5% in the third quarter. Algert Global LLC now owns 294,840 shares of the bank's stock worth $24,923,000 after buying an additional 259,380 shares in the last quarter. UBS Group AG raised its stake in Texas Capital Bancshares by 56.8% in the third quarter. UBS Group AG now owns 403,692 shares of the bank's stock worth $34,124,000 after buying an additional 146,181 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Texas Capital Bancshares by 49.7% in the third quarter. Ameriprise Financial Inc. now owns 397,927 shares of the bank's stock worth $33,636,000 after buying an additional 132,127 shares in the last quarter. Institutional investors own 96.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TCBI shares. JPMorgan Chase & Co. reduced their price objective on shares of Texas Capital Bancshares from $105.00 to $100.00 and set an "underweight" rating for the company in a research note on Wednesday, April 1st. Citigroup boosted their price objective on shares of Texas Capital Bancshares from $88.00 to $96.00 and gave the stock a "sell" rating in a research note on Tuesday, April 28th. Zacks Research downgraded shares of Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Royal Bank Of Canada boosted their price objective on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Friday, April 24th. Finally, Piper Sandler boosted their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Four equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $104.09.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 5,500 shares of the stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $22.80 per share, with a total value of $125,400.00. Following the completion of the acquisition, the director owned 175,087 shares in the company, valued at $3,991,983.60. This trade represents a 3.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paola M. Arbour purchased 1,000 shares of the stock in a transaction on Wednesday, March 11th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $91,500.00. Following the completion of the acquisition, the director owned 6,671 shares of the company's stock, valued at $610,396.50. The trade was a 17.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 26,500 shares of company stock worth $670,700. 1.91% of the stock is owned by corporate insiders.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $99.49 on Friday. Texas Capital Bancshares, Inc. has a one year low of $70.11 and a one year high of $108.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.42 and a beta of 0.68. The firm's fifty day moving average is $98.70 and its two-hundred day moving average is $96.45.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 EPS for the quarter, beating 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 company 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 company earned $0.92 earnings per share. The firm's revenue was up 15.5% on a year-over-year basis. Research analysts expect that Texas Capital Bancshares, Inc. will post 7.63 EPS for the current year.

Texas Capital Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st.

About Texas Capital Bancshares

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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