Legal & General Group Plc purchased a new stake 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 & Exchange Commission. The firm purchased 58,382 shares of the bank's stock, valued at approximately $6,029,000. Legal & General Group Plc owned approximately 0.13% of Texas Capital Bancshares at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in TCBI. Hillsdale Investment Management Inc. grew its holdings in 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 worth $4,716,000 after acquiring an additional 52,000 shares during the last quarter. BlackRock Inc. bought a new position in shares of Texas Capital Bancshares during the second quarter valued at $578,148,000. Quantinno Capital Management LP lifted its holdings in shares of Texas Capital Bancshares by 288.1% during the first quarter. Quantinno Capital Management LP now owns 34,729 shares of the bank's stock worth $3,295,000 after purchasing an additional 25,781 shares during the period. Bank of America Corp DE grew its stake in shares of Texas Capital Bancshares by 13.6% in the first quarter. Bank of America Corp DE now owns 378,515 shares of the bank's stock worth $35,914,000 after purchasing an additional 45,220 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Texas Capital Bancshares by 17.2% in the fourth quarter. William Blair Investment Management LLC now owns 468,000 shares of the bank's stock worth $42,373,000 after purchasing an additional 68,539 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Texas Capital Bancshares
In other Texas Capital Bancshares news, CEO Rob C. Holmes sold 49,500 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $101.22, for a total value of $5,010,390.00. Following the transaction, the chief executive officer directly owned 167,635 shares of the company's stock, valued at approximately $16,968,014.70. The trade was a 22.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anna M. Alvarado sold 3,500 shares of the stock in a transaction that occurred 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. The trade was a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 104,145 shares of company stock valued at $10,570,584. 1.91% of the stock is currently owned by company insiders.
Texas Capital Bancshares Stock Performance
Shares of TCBI opened at $96.68 on Thursday. 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 firm's fifty day simple moving average is $100.88 and its two-hundred day simple moving average is $99.38. Texas Capital Bancshares, Inc. has a 12 month low of $75.41 and a 12 month high of $108.92. The stock has a market capitalization of $4.20 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.16 and a beta of 0.66.
Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.01. The firm had revenue of $335.50 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $1.63 EPS. As a group, analysts predict that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current year.
Texas Capital Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares's payout ratio is presently 10.40%.
Analyst Ratings Changes
Several brokerages recently issued reports on TCBI. TD Cowen lowered their target price on Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating for the company in a research report on Monday, July 27th. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Weiss Ratings restated a "buy (b)" rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Stephens cut their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Finally, Fundamental Research set a $110.00 target price on Texas Capital Bancshares in a report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $105.83.
Read Our Latest Stock Report on Texas Capital Bancshares
About Texas Capital Bancshares
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding TCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report).
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