Norges Bank Takes $51.73 Million Position in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Norges Bank disclosed a new stake in Texas Capital Bancshares, buying 571,330 shares valued at about $51.73 million and ending the quarter with roughly 1.25% ownership.
• Texas Capital Bancshares recently reported better-than-expected quarterly results, with EPS of $1.58 versus $1.42 expected and revenue of $323.99 million, up 15.5% from a year earlier.
• Analysts remain cautious overall: the stock has a consensus Hold rating with a $104.09 price target, while the company also announced a quarterly dividend of $0.20 per share.

Norges Bank purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 571,330 shares of the bank's stock, valued at approximately $51,728,000. Norges Bank owned about 1.25% of Texas Capital Bancshares at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Texas Capital Bancshares by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 263,975 shares of the bank's stock valued at $22,314,000 after buying an additional 14,240 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Texas Capital Bancshares by 15.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 44,242 shares of the bank's stock valued at $3,740,000 after buying an additional 5,867 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Texas Capital Bancshares during the 3rd quarter valued at approximately $1,203,000. Cibc World Market Inc. acquired a new position in Texas Capital Bancshares in the third quarter valued at approximately $2,677,000. Finally, Picton Mahoney Asset Management acquired a new position in Texas Capital Bancshares in the third quarter valued at approximately $4,299,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Insider Activity

In related news, Director Paola M. Arbour acquired 1,000 shares of the stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average cost of $91.50 per share, with a total value of $91,500.00. Following the completion of the transaction, the director owned 6,671 shares in the company, valued at $610,396.50. This represents a 17.63% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.91% of the company's stock.

Analyst Ratings Changes

TCBI has been the subject of several recent analyst reports. Citigroup raised their target price on Texas Capital Bancshares from $88.00 to $96.00 and gave the stock a "sell" rating in a research note on Tuesday, April 28th. Piper Sandler upped their price target on Texas Capital Bancshares from $96.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Zacks Research downgraded Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, May 17th. Finally, 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 research report on Wednesday, April 1st. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $104.09.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $101.69 on Monday. Texas Capital Bancshares, Inc. has a 52 week low of $73.27 and a 52 week high of $108.92. The company has a fifty day simple moving average of $99.36 and a two-hundred day simple moving average of $97.03. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.44 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.16. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.The business had revenue of $323.99 million for the quarter, compared to analysts' expectations of $318.10 million. During the same period last year, the firm earned $0.92 earnings per share. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that Texas Capital Bancshares, Inc. will post 7.63 earnings per share for the current fiscal 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 paid 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. Texas Capital Bancshares's dividend payout ratio (DPR) is presently 10.75%.

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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