Texas Capital Bancshares, Inc. $TCBI Shares Sold by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. reduced its Texas Capital Bancshares stake by 7.0% in the first quarter, selling 25,630 shares and leaving it with 341,284 shares valued at about $32.4 million.
• Texas Capital Bancshares reported strong quarterly results, with EPS of $1.58 beating estimates and revenue of $323.99 million topping expectations; revenue rose 15.5% year over year.
• Insiders have also been selling shares, including CEO Rob C. Holmes and insider Anna M. Alvarado, while analysts currently rate the stock Hold on average with a target price of $106.17.

Bessemer Group Inc. trimmed its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 341,284 shares of the bank's stock after selling 25,630 shares during the period. Bessemer Group Inc. owned about 0.78% of Texas Capital Bancshares worth $32,382,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Texas Capital Bancshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank's stock worth $2,062,000 after purchasing an additional 1,206 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Texas Capital Bancshares by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank's stock worth $41,837,000 after purchasing an additional 20,231 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Texas Capital Bancshares in the first quarter valued at approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Texas Capital Bancshares by 29.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank's stock valued at $8,050,000 after purchasing an additional 24,538 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Texas Capital Bancshares by 34.0% during the 2nd quarter. Invesco Ltd. now owns 149,559 shares of the bank's stock worth $11,875,000 after buying an additional 37,982 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Trading Down 2.5%

Shares of NASDAQ:TCBI opened at $105.07 on Friday. Texas Capital Bancshares, Inc. has a 52 week low of $75.41 and a 52 week high of $108.92. The company's 50 day moving average is $100.86 and its two-hundred day moving average is $99.16. The company has a market cap of $4.59 billion, a PE ratio of 14.12, a P/E/G ratio of 1.51 and a beta of 0.67. 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 (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.16. The business had revenue of $323.99 million during the quarter, compared to analysts' expectations of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. Equities analysts predict that Texas Capital Bancshares, Inc. will post 7.56 earnings per share for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Texas Capital Bancshares's payout ratio is 10.75%.

Insider Activity

In other news, insider Anna M. Alvarado sold 3,500 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total transaction of $353,325.00. Following the sale, the insider owned 23,810 shares of the company's stock, valued at approximately $2,403,619.50. This trade represents a 12.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rob C. Holmes sold 49,500 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $101.22, for a total value of $5,010,390.00. Following the sale, the chief executive officer owned 167,635 shares of the company's stock, valued at approximately $16,968,014.70. The trade was a 22.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 102,100 shares of company stock valued at $10,366,023. Insiders own 1.91% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Royal Bank Of Canada upped their price objective on 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. JPMorgan Chase & Co. lifted their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an "underweight" rating in a report on Wednesday, July 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Citigroup upgraded Texas Capital Bancshares from a "sell" rating to a "neutral" rating and upped their price target for the stock from $96.00 to $105.00 in a report on Tuesday, June 30th. Finally, Wall Street Zen lowered Texas Capital Bancshares from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given 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 an average target price of $106.17.

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.

Want to see what other hedge funds are holding TCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report).

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.