Texas Capital Bancshares, Inc. $TCBI Shares Sold by Fisher Asset Management LLC

Key Points

• Fisher Asset Management reduced its Texas Capital Bancshares stake by 7.7% in the fourth quarter, but still held 291,356 shares worth about $26.4 million. Despite the sale, institutional investors still own a very large majority of the stock.
• Texas Capital Bancshares reported better-than-expected quarterly results, with EPS of $1.58 versus estimates of $1.42 and revenue of $323.99 million topping forecasts. Revenue rose 15.5% year over year, and analysts 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 a 0.8% annualized yield.

Fisher Asset Management LLC cut its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,356 shares of the bank's stock after selling 24,390 shares during the period. Fisher Asset Management LLC owned about 0.64% of Texas Capital Bancshares worth $26,379,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Zacks Research cut Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Royal Bank Of Canada lifted their target price 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. Citigroup lifted their target price on Texas Capital Bancshares from $88.00 to $96.00 and gave the stock a "sell" rating in a research report on Tuesday, April 28th. Hovde Group lifted their target price on Texas Capital Bancshares from $93.00 to $102.00 and gave the stock a "market perform" rating in a research report on Tuesday, January 27th. Finally, Piper Sandler lifted their target price on Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $104.09.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Paola M. Arbour acquired 1,000 shares of the stock in a transaction on Wednesday, March 11th. The shares were bought at an average price of $91.50 per share, with a total value of $91,500.00. Following the acquisition, the director owned 6,671 shares of the company's stock, valued at $610,396.50. This trade represents a 17.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Stallings acquired 5,500 shares of the stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of $22.80 per share, for a total transaction of $125,400.00. Following the acquisition, the director directly owned 175,087 shares in the company, valued at $3,991,983.60. This represents a 3.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 26,500 shares of company stock worth $670,700 in the last ninety days. 1.91% of the stock is owned by corporate insiders.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $100.37 on Wednesday. Texas Capital Bancshares, Inc. has a twelve month low of $70.11 and a twelve month high of $108.92. The stock's 50 day moving average is $98.24 and its two-hundred day moving average is $96.24. The firm has a market capitalization of $4.38 billion, a PE ratio of 13.49, a P/E/G ratio of 1.41 and a beta of 0.68. 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 announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.16. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.The company had revenue of $323.99 million for the quarter, compared to analyst estimates of $318.10 million. During the same quarter in the previous year, the company earned $0.92 EPS. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. Research analysts anticipate that Texas Capital Bancshares, Inc. will post 7.63 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

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

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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