Madison Asset Management LLC Makes New $4.45 Million Investment in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Madison Asset Management acquired a new $4.45 million stake in Texas Capital Bancshares during the second quarter, purchasing 43,065 shares. Institutional investors collectively own 96.88% of the company.
• Texas Capital Bancshares reported quarterly EPS of $1.88, slightly above estimates, while revenue rose 9.1% year over year to $335.5 million. The company expects full-year EPS of $7.39.
• The bank declared a quarterly dividend of $0.20 per share, representing an annualized yield of approximately 0.8%. Analysts maintain an average “Hold” rating with a consensus price target of $105.83 versus the reported share price of $98.04.

Madison Asset Management LLC acquired a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,065 shares of the bank's stock, valued at approximately $4,447,000. Madison Asset Management LLC owned 0.10% of Texas Capital Bancshares at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TCBI. Danske Bank A S purchased a new stake in Texas Capital Bancshares during the 3rd quarter valued at $25,000. Farther Finance Advisors LLC boosted its stake in Texas Capital Bancshares by 1,381.8% during the fourth quarter. Farther Finance Advisors LLC now owns 326 shares of the bank's stock worth $30,000 after buying an additional 304 shares during the period. Root Financial Partners LLC increased its position in Texas Capital Bancshares by 85.2% during the first quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock valued at $31,000 after acquiring an additional 150 shares during the last quarter. Advisory Services Network LLC bought a new position in Texas Capital Bancshares during the third quarter valued at $32,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at $36,000. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Stock Down 0.2%

NASDAQ:TCBI opened at $98.04 on Friday. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.20 and a beta of 0.68. Texas Capital Bancshares, Inc. has a twelve month low of $75.41 and a twelve month high of $108.92. 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 fifty day simple moving average of $101.38 and a 200-day simple moving average of $99.77.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.01. The firm had revenue of $335.50 million for the quarter, compared to analysts' expectations of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The business's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 earnings per share. Analysts anticipate that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid 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 dividend payout ratio is currently 10.40%.

Analyst Ratings Changes

TCBI has been the subject of several analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. Stephens reduced their price objective on shares of 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. Piper Sandler raised 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. TD Cowen dropped 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. Finally, Fundamental Research set a $110.00 target price on Texas Capital Bancshares in a research report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Texas Capital Bancshares has an average rating of "Hold" and an average price target of $105.83.

Insiders Place Their Bets

In other news, insider Anna M. Alvarado sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total transaction of $353,325.00. Following the transaction, the insider directly owned 23,810 shares of the company's stock, valued at approximately $2,403,619.50. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ellen Detrich sold 2,045 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, July 24th. The shares were 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 $753,125.87. This represents a 21.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 104,145 shares of company stock worth $10,570,584 in the last three months. Corporate insiders own 1.91% of the company's stock.

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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