Texas Capital Bancshares, Inc. $TCBI Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC cut its Texas Capital Bancshares stake by 41.3% in the fourth quarter, leaving it with 29,821 shares valued at about $2.7 million. Even so, institutional investors still own a very large majority of the company’s stock.
• Texas Capital Bancshares reported better-than-expected quarterly results, with EPS of $1.58 versus the $1.42 consensus and revenue of $323.99 million, up 15.5% year over year. Analysts now expect full-year EPS of 7.63.
• The stock has drawn mixed analyst views, with a consensus rating of “Hold” and an average price target of $104.09. The company also announced a quarterly dividend of $0.20 per share, payable June 15, for an annualized yield of 0.8%.

AlphaQuest LLC lowered its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 41.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 29,821 shares of the bank's stock after selling 20,966 shares during the period. AlphaQuest LLC owned approximately 0.07% of Texas Capital Bancshares worth $2,700,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Danske Bank A S purchased a new position in Texas Capital Bancshares in the 3rd quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its position in Texas Capital Bancshares by 1,381.8% in the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank's stock valued at $30,000 after buying an additional 304 shares during the period. Advisory Services Network LLC purchased a new position in Texas Capital Bancshares in the 3rd quarter valued at approximately $32,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Texas Capital Bancshares by 169.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank's stock valued at $35,000 after buying an additional 246 shares during the period. Finally, Torren Management LLC purchased a new position in Texas Capital Bancshares in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Piper Sandler raised their price target 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Texas Capital Bancshares in a research report on Wednesday, January 28th. Zacks Research cut shares of Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. JPMorgan Chase & Co. decreased 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 lifted their price objective on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of "Hold" and an average price target of $104.09.

Texas Capital Bancshares Trading Up 1.0%

NASDAQ TCBI opened at $100.37 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $4.38 billion, a PE ratio of 13.49, a P/E/G ratio of 1.41 and a beta of 0.68. Texas Capital Bancshares, Inc. has a one year low of $70.11 and a one year high of $108.92. The firm's fifty day moving average is $98.24 and its two-hundred day moving average is $96.24.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $323.99 million for the quarter, compared to analyst estimates of $318.10 million. During the same period in the previous year, the business posted $0.92 earnings per share. Texas Capital Bancshares's quarterly revenue was up 15.5% on a year-over-year basis. Analysts expect that Texas Capital Bancshares, Inc. will post 7.63 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%.

Insider Activity

In other news, Director Paola M. Arbour bought 1,000 shares of the stock in a transaction on Wednesday, March 11th. The stock was purchased at an average cost of $91.50 per share, with a total value of $91,500.00. Following 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert W. Stallings acquired 5,500 shares of the company's stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $22.80 per share, with a total value of $125,400.00. Following the transaction, the director directly owned 175,087 shares of the company's stock, valued at approximately $3,991,983.60. This represents a 3.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 26,500 shares of company stock worth $670,700 in the last ninety days. 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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