Jupiter Topco LLC Takes $1.98 Million Position in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Jupiter Topco LLC acquired 19,160 Texas Capital Bancshares shares worth approximately $1.98 million, while institutional investors collectively own 96.88% of the stock.
• Texas Capital Bancshares exceeded quarterly earnings and revenue estimates, reporting $1.88 EPS and $335.5 million in revenue, up 9.1% year over year. The company also declared a quarterly dividend of $0.20 per share.
• Analysts maintain a consensus “Hold” rating with an average price target of $105.83; insiders have sold 55,045 shares worth roughly $5.57 million over the past 90 days.

Jupiter Topco LLC bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,160 shares of the bank's stock, valued at approximately $1,978,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Danske Bank A S purchased a new stake in Texas Capital Bancshares during the 3rd quarter worth $25,000. Farther Finance Advisors LLC lifted its holdings in Texas Capital Bancshares by 1,381.8% in the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank's stock worth $30,000 after buying an additional 304 shares in the last quarter. Root Financial Partners LLC boosted its position in Texas Capital Bancshares by 85.2% in the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock valued at $31,000 after buying an additional 150 shares during the last quarter. Advisory Services Network LLC purchased a new position in Texas Capital Bancshares in the 3rd quarter valued at about $32,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $36,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ellen Detrich sold 2,045 shares of the company's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $100.03, for a total transaction of $204,561.35. Following the sale, the insider directly owned 7,529 shares of the company's stock, valued at approximately $753,125.87. This represents a 21.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anna Alvarado sold 3,500 shares of the firm's 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 transaction, the insider owned 23,810 shares in the company, valued at $2,403,619.50. This trade represents a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 55,045 shares of company stock worth $5,568,276. 1.91% of the stock is currently owned by insiders.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $97.81 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares, Inc. has a one year low of $75.41 and a one year high of $108.92. The company's 50-day simple moving average is $100.76 and its 200-day simple moving average is $99.35. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.18 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.01. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The firm had revenue of $335.50 million during the quarter, compared to analyst estimates of $333.37 million. During the same period in the previous year, the company earned $1.63 earnings per share. Texas Capital Bancshares's quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts anticipate that Texas Capital Bancshares, Inc. will post 7.39 earnings per share 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. Stockholders of record on Tuesday, September 1st will be issued 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 is Tuesday, September 1st. Texas Capital Bancshares's payout ratio is 10.40%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Stephens reduced their price target on Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Barclays upgraded Texas Capital Bancshares from an "underweight" rating to an "equal weight" rating and set a $100.00 price objective for the company in a research note on Monday, August 3rd. TD Cowen dropped their price objective on Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating on the stock in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. upped their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an "underweight" rating in a research report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $105.83.

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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