UBS Group AG Has $10.36 Million Stock Holdings in Texas Capital Bancshares, Inc. $TCBI

Key Points

• UBS Group AG sharply cut its stake in Texas Capital Bancshares by 71.7% in the fourth quarter, leaving it with 114,380 shares valued at about $10.36 million.
• Texas Capital Bancshares beat quarterly expectations, reporting EPS of $1.58 versus the $1.42 estimate and revenue of $323.99 million, up 15.5% year over year.
• The company also announced a quarterly dividend of $0.20 per share, payable June 15, which works out to an annualized yield of about 0.8%.

UBS Group AG lessened its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 71.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,380 shares of the bank's stock after selling 289,312 shares during the period. UBS Group AG owned approximately 0.25% of Texas Capital Bancshares worth $10,356,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in Texas Capital Bancshares by 25.1% in the third quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank's stock worth $162,229,000 after purchasing an additional 384,748 shares in the last quarter. Azora Capital LP raised its position in Texas Capital Bancshares by 11.5% in the third quarter. Azora Capital LP now owns 1,036,613 shares of the bank's stock worth $87,625,000 after purchasing an additional 106,599 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Texas Capital Bancshares by 2.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 847,583 shares of the bank's stock worth $76,740,000 after purchasing an additional 18,258 shares in the last quarter. Goldman Sachs Group Inc. raised its position 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 worth $41,837,000 after purchasing an additional 20,231 shares in the last quarter. Finally, Heartland Advisors Inc. raised its position in Texas Capital Bancshares by 1.4% in the third quarter. Heartland Advisors Inc. now owns 410,903 shares of the bank's stock worth $34,734,000 after purchasing an additional 5,734 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. DA Davidson increased their price target on shares of Texas Capital Bancshares from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Friday, January 23rd. Barclays increased their price target on shares of Texas Capital Bancshares from $90.00 to $100.00 and gave the stock an "underweight" rating in a research report on Friday, January 23rd. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday. Zacks Research lowered shares of Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Texas Capital Bancshares in a research report on Wednesday, January 28th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $102.08.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Paola M. Arbour acquired 1,000 shares of Texas Capital Bancshares stock in a transaction on Wednesday, March 11th. The shares were purchased at an average cost of $91.50 per share, with a total value of $91,500.00. Following the completion of the purchase, the director owned 6,671 shares in the company, valued at $610,396.50. The trade was a 17.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Stallings purchased 20,000 shares of Texas Capital Bancshares stock in a transaction dated Thursday, March 5th. The shares were purchased at an average cost of $22.69 per share, for a total transaction of $453,800.00. Following the completion of the transaction, the director owned 169,587 shares of the company's stock, valued at approximately $3,847,929.03. This represents a 13.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 46,500 shares of company stock worth $1,113,500. Insiders own 1.91% of the company's stock.

Texas Capital Bancshares Price Performance

Shares of TCBI stock opened at $95.98 on Friday. Texas Capital Bancshares, Inc. has a 52-week low of $70.00 and a 52-week high of $108.92. The stock has a market cap of $4.19 billion, a PE ratio of 12.90, a PEG ratio of 1.36 and a beta of 0.68. 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's 50 day moving average price is $97.36 and its two-hundred day moving average price is $95.44.

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 (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 firm had revenue of $323.99 million for the quarter, compared to analysts' expectations of $318.10 million. During the same period last year, the firm earned $0.92 earnings per share. The business's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts forecast that Texas Capital Bancshares, Inc. will post 7.63 EPS for the current year.

Texas Capital Bancshares Announces Dividend

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 paid a $0.20 dividend. 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%.

About Texas Capital Bancshares

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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