Texas Capital Bancshares, Inc. $TCBI Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management increased its Texas Capital Bancshares stake by 47.3% in the second quarter, bringing its holdings to 483,210 shares worth approximately $49.9 million. Institutional investors collectively own 96.88% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $105.83. Ratings range from Buy to Sell, while recent targets span $100 to $112.
• Texas Capital Bancshares slightly beat quarterly earnings expectations, 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, while insiders sold more than $5.5 million in stock over the past 90 days.

Wellington Management Group LLP boosted its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 47.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 483,210 shares of the bank's stock after buying an additional 155,201 shares during the quarter. Wellington Management Group LLP owned approximately 1.11% of Texas Capital Bancshares worth $49,896,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Danske Bank A S acquired a new stake in Texas Capital Bancshares during the third quarter worth approximately $25,000. Farther Finance Advisors LLC lifted its stake in shares of Texas Capital Bancshares by 1,381.8% during the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank's stock worth $30,000 after purchasing an additional 304 shares during the period. Root Financial Partners LLC boosted its holdings in shares of Texas Capital Bancshares by 85.2% during the first quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock worth $31,000 after purchasing an additional 150 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Texas Capital Bancshares during the third quarter worth $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. Institutional investors and hedge funds own 96.88% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TCBI. Weiss Ratings reiterated a "buy (b)" rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Citigroup upped their price objective on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Stephens cut 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 report on Thursday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 1st. Finally, Barclays upgraded shares of Texas Capital Bancshares from an "underweight" rating to an "equal weight" rating and set a $100.00 target price for the company in a report on Monday, August 3rd. 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $105.83.

Insider Buying and Selling at Texas Capital Bancshares

In other news, CEO Rob C. Holmes sold 49,500 shares of the firm's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the transaction, the chief executive officer owned 167,635 shares of the company's stock, valued at approximately $16,968,014.70. This trade represents a 22.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anna M. Alvarado sold 3,500 shares of Texas Capital Bancshares stock in a transaction 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 owned 23,810 shares in the company, valued at $2,403,619.50. The trade was a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,045 shares of company stock valued at $5,568,276 over the last ninety days. Corporate insiders own 1.91% of the company's stock.

Texas Capital Bancshares Price Performance

TCBI stock opened at $97.81 on Friday. The stock has a 50-day moving average price of $100.76 and a two-hundred day moving average price of $99.35. Texas Capital Bancshares, Inc. has a 12-month low of $75.41 and a 12-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 company has a market cap of $4.25 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.01. The company had revenue of $335.50 million for the quarter, compared to the consensus estimate of $333.37 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The company's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $1.63 EPS. As a group, research analysts predict that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current year.

Texas Capital Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 annualized dividend and a yield of 0.8%. Texas Capital Bancshares's dividend payout ratio (DPR) is presently 10.40%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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