Texas Capital Bancshares, Inc. $TCBI Shares Acquired by Texas Capital Bank Wealth Management Services Inc

Key Points

• Texas Capital Bank Wealth Management Services increased its stake in Texas Capital Bancshares by 39.9% in the fourth quarter, bringing its holdings to 349,089 shares worth about $31.6 million. Institutional ownership remains very high at 96.88%.
• Texas Capital Bancshares reported strong quarterly results, with EPS of $1.58 beating estimates and revenue of $323.99 million topping forecasts. Revenue rose 15.5% from a year earlier, and analysts expect full-year EPS of 7.63.
• The company also announced a quarterly dividend of $0.20 per share, payable June 15, which works out to an annualized dividend of $0.80 and a yield of 0.8%. Insider buying has also been notable, including recent purchases by two directors.

Texas Capital Bank Wealth Management Services Inc raised its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 39.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 349,089 shares of the bank's stock after buying an additional 99,482 shares during the quarter. Texas Capital Bancshares accounts for about 1.8% of Texas Capital Bank Wealth Management Services Inc's investment portfolio, making the stock its 8th largest position. Texas Capital Bank Wealth Management Services Inc owned about 0.76% of Texas Capital Bancshares worth $31,607,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Optimize Financial Inc acquired a new stake in shares of Texas Capital Bancshares in the third quarter worth $441,000. Federated Hermes Inc. raised its stake in Texas Capital Bancshares by 153.7% during the 3rd quarter. Federated Hermes Inc. now owns 123,900 shares of the bank's stock valued at $10,473,000 after purchasing an additional 75,061 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Texas Capital Bancshares by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 263,975 shares of the bank's stock valued at $22,314,000 after purchasing an additional 14,240 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Texas Capital Bancshares by 15.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 44,242 shares of the bank's stock valued at $3,740,000 after purchasing an additional 5,867 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Texas Capital Bancshares in the 3rd quarter worth $1,203,000. 96.88% of the stock is owned by institutional investors.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 5,500 shares of Texas Capital Bancshares stock in a transaction on Friday, March 6th. The shares were purchased at an average cost of $22.80 per share, with a total value of $125,400.00. Following the completion of the purchase, the director owned 175,087 shares in the company, valued at $3,991,983.60. The trade was a 3.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paola M. Arbour acquired 1,000 shares of Texas Capital Bancshares 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 purchase, the director owned 6,671 shares of the company's stock, valued at approximately $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. Insiders have bought 26,500 shares of company stock worth $670,700 over the last three months. 1.91% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TCBI shares. Piper Sandler upped their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Zacks Research lowered shares of Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Citigroup upped their price objective on shares of Texas Capital Bancshares from $88.00 to $96.00 and gave the company a "sell" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. cut 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 report on Wednesday, April 1st. Finally, Royal Bank Of Canada upped their price objective on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Texas Capital Bancshares has a consensus rating of "Hold" and a consensus target price of $104.09.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $98.14 on Thursday. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.42 and a beta of 0.68. The company has a 50 day moving average of $98.37 and a 200-day moving average of $96.34. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Texas Capital Bancshares, Inc. has a 1-year low of $70.11 and a 1-year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released 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 business had revenue of $323.99 million for the quarter, compared to analysts' expectations of $318.10 million. During the same period in the prior year, the firm earned $0.92 earnings per share. Texas Capital Bancshares's revenue was up 15.5% compared to the same quarter last year. On average, equities analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st.

Texas Capital Bancshares 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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