Texas Capital Bancshares, Inc. $TCBI Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Texas Capital Bancshares stake by 26.1% in the first quarter, bringing its holdings to 55,409 shares valued at approximately $5.26 million. Institutional investors collectively own 96.88% of the company.
• Texas Capital Bancshares reported quarterly EPS of $1.88, narrowly beating estimates, while revenue rose 9.1% year over year to $335.5 million. The company declared a quarterly dividend of $0.20 per share, implying an annual yield of about 0.8%.
• TCBI shares opened at $99.49, down 0.5%, while analysts maintained a consensus “Hold” rating and an average price target of $105.83. Recent insider activity was negative, with insiders selling 104,145 shares worth roughly $10.57 million over 90 days.

California State Teachers Retirement System increased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 26.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,409 shares of the bank's stock after acquiring an additional 11,482 shares during the period. California State Teachers Retirement System owned approximately 0.13% of Texas Capital Bancshares worth $5,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TCBI. Hillsdale Investment Management Inc. grew its position 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 purchasing an additional 52,000 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Texas Capital Bancshares by 2.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 847,583 shares of the bank's stock valued at $76,740,000 after buying an additional 18,258 shares during the period. William Blair Investment Management LLC boosted 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 buying an additional 68,539 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Texas Capital Bancshares by 69.0% in the first quarter. Principal Financial Group Inc. now owns 282,682 shares of the bank's stock worth $26,821,000 after buying an additional 115,455 shares during the last quarter. Finally, Hodges Capital Management Inc. boosted its stake in shares of Texas Capital Bancshares by 14.0% in the first quarter. Hodges Capital Management Inc. now owns 138,660 shares of the bank's stock worth $13,156,000 after buying an additional 17,033 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.

Insiders Place Their Bets

In other news, insider Anna M. Alvarado sold 3,500 shares of Texas Capital Bancshares stock in a transaction on Tuesday, June 9th. The stock was 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ellen Detrich sold 2,045 shares of the business's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $100.03, for a total transaction of $204,561.35. Following the transaction, the insider directly owned 7,529 shares in the company, valued at approximately $753,125.87. The trade was a 21.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 104,145 shares of company stock valued at $10,570,584. Insiders own 1.91% of the company's stock.

Texas Capital Bancshares Stock Down 0.5%

Shares of TCBI opened at $99.49 on Friday. The stock has a 50 day moving average price of $101.45 and a 200 day moving average price of $99.73. Texas Capital Bancshares, Inc. has a one year low of $75.41 and a one year high of $108.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.22 and a beta of 0.68.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.87 by $0.01. The company had revenue of $335.50 million for 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 firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS. Equities research analysts forecast that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current fiscal year.

Texas Capital Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TCBI. Fundamental Research set a $110.00 price target on Texas Capital Bancshares in a research report on Wednesday, July 1st. Wall Street Zen cut shares of Texas Capital Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Citigroup lifted their target price on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the company a "neutral" rating in a report on Friday, July 24th. TD Cowen decreased their target price on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating for the company in a research note on Monday, July 27th. Finally, Stephens lowered their price target 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. Four 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's stock. According to data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of "Hold" and a consensus target price of $105.83.

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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