Texas Capital Bancshares, Inc. $TCBI Shares Sold by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC cut its stake in Texas Capital Bancshares by 65.7% in the first quarter, selling 22,965 shares and leaving it with 11,977 shares valued at about $1.14 million.
• Insider selling has been notable, with CEO Rob C. Holmes selling 49,500 shares for about $5.0 million and insider Anna M. Alvarado selling 3,500 shares; insiders have sold 102,100 shares worth roughly $10.4 million over the past 90 days.
• The company reported solid quarterly results, posting EPS of $1.58 versus analysts’ estimate of $1.42 and revenue of $324 million, while also paying a quarterly dividend of $0.20 per share.

SG Americas Securities LLC lowered its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 65.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 11,977 shares of the bank's stock after selling 22,965 shares during the quarter. SG Americas Securities LLC's holdings in Texas Capital Bancshares were worth $1,136,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Danske Bank A S purchased a new stake in Texas Capital Bancshares during the third quarter worth approximately $25,000. Farther Finance Advisors LLC raised its stake in shares of 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 acquiring an additional 304 shares during the period. Advisory Services Network LLC purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Texas Capital Bancshares by 169.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank's stock valued at $35,000 after acquiring an additional 246 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Texas Capital Bancshares during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, CEO Rob C. Holmes sold 49,500 shares of the company'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 transaction, the chief executive officer directly owned 167,635 shares of the company's stock, valued at $16,968,014.70. This represents a 22.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anna M. Alvarado sold 3,500 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total value of $353,325.00. Following the completion of the transaction, the insider directly owned 23,810 shares in the company, valued at approximately $2,403,619.50. The trade was a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 102,100 shares of company stock worth $10,366,023 over the last 90 days. 1.91% of the stock is owned by company insiders.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $103.95 on Friday. The firm has a 50-day moving average of $100.26 and a two-hundred day moving average of $98.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $4.54 billion, a P/E ratio of 13.97, a PEG ratio of 1.49 and a beta of 0.67. Texas Capital Bancshares, Inc. has a 1-year low of $75.41 and a 1-year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, topping 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 business 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 company earned $0.92 earnings per share. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts expect that Texas Capital Bancshares, Inc. will post 7.56 earnings per share for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid 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 was Monday, June 1st. Texas Capital Bancshares's dividend payout ratio (DPR) is 10.75%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TCBI. Royal Bank Of Canada increased their price target on Texas Capital Bancshares from $110.00 to $114.00 and gave the company a "sector perform" rating in a report on Friday, April 24th. Piper Sandler boosted their price objective on Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Zacks Research downgraded Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. JPMorgan Chase & Co. increased their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an "underweight" rating in a research note on Wednesday. Finally, Citigroup upgraded Texas Capital Bancshares from a "sell" rating to a "neutral" rating and raised their target price for the company from $96.00 to $105.00 in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus price target 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.

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