Texas Capital Bancshares, Inc. $TCBI Stake Raised by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management increased its stake in Texas Capital Bancshares by 14% in the first quarter, bringing its holdings to 138,660 shares worth about $13.2 million.
• Insider selling was notable, with CEO Rob C. Holmes and insider Anna M. Alvarado both selling shares recently; insiders sold 102,100 shares total over the last 90 days.
• Texas Capital Bancshares reported strong quarterly results, beating EPS and revenue estimates, while analysts currently rate the stock a consensus “Hold” with an average price target of $106.17.

Hodges Capital Management Inc. boosted its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,660 shares of the bank's stock after acquiring an additional 17,033 shares during the quarter. Texas Capital Bancshares accounts for 1.1% of Hodges Capital Management Inc.'s portfolio, making the stock its 25th largest position. Hodges Capital Management Inc. owned about 0.32% of Texas Capital Bancshares worth $13,156,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TCBI. JPMorgan Chase & Co. grew its position in Texas Capital Bancshares by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 263,975 shares of the bank's stock valued at $22,314,000 after purchasing an additional 14,240 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of 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 buying an additional 52,000 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Texas Capital Bancshares by 17.2% in the 4th quarter. William Blair Investment Management LLC now owns 468,000 shares of the bank's stock valued at $42,373,000 after acquiring an additional 68,539 shares in the last quarter. Faithward Advisors LLC acquired a new stake in shares of Texas Capital Bancshares in the third quarter valued at about $3,817,000. Finally, ArrowMark Colorado Holdings LLC raised its holdings in Texas Capital Bancshares by 30.1% during the third quarter. ArrowMark Colorado Holdings LLC now owns 177,000 shares of the bank's stock worth $14,962,000 after acquiring an additional 41,000 shares in the last quarter. Institutional investors own 96.88% of the company's stock.

Insider Transactions at Texas Capital Bancshares

In other news, insider Anna M. Alvarado sold 3,500 shares of the business'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 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rob C. Holmes sold 49,500 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $16,968,014.70. This trade represents a 22.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 102,100 shares of company stock valued at $10,366,023. Insiders own 1.91% of the company's stock.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock opened at $103.95 on Monday. Texas Capital Bancshares, Inc. has a fifty-two week low of $75.41 and a fifty-two week high of $108.92. 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 firm has a market capitalization of $4.54 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.49 and a beta of 0.67. The company's 50 day moving average price is $100.26 and its two-hundred day moving average price is $98.48.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $318.10 million. During the same period in the prior year, the business 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, equities analysts forecast that Texas Capital Bancshares, Inc. will post 7.56 earnings per share for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TCBI shares. Piper Sandler increased their price target on Texas Capital Bancshares from $96.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Citigroup upgraded shares of Texas Capital Bancshares from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $96.00 to $105.00 in a report on Tuesday, June 30th. Royal Bank Of Canada boosted 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 note on Friday, April 24th. Wall Street Zen cut shares of Texas Capital Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Finally, Fundamental Research set a $110.00 target price on shares of Texas Capital Bancshares in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares currently 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.

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.