William Blair Investment Management LLC Purchases Shares of 201,422 Texas Capital Bancshares, Inc. $TCBI

Key Points

• William Blair Investment Management purchased 201,422 shares of Texas Capital Bancshares worth approximately $20.8 million, giving it a 0.46% stake. Institutional investors and hedge funds collectively own 96.88% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $105.83; individual targets range from $100 to $112.
• Texas Capital Bancshares slightly exceeded quarterly earnings and revenue expectations, reporting $1.88 in EPS and $335.5 million in revenue. The company also declared a quarterly dividend of $0.20 per share, equivalent to a 0.8% annual yield.

William Blair Investment Management LLC purchased a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 201,422 shares of the bank's stock, valued at approximately $20,799,000. William Blair Investment Management LLC owned about 0.46% of Texas Capital Bancshares at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Danske Bank A S purchased a new stake in shares of Texas Capital Bancshares during the third quarter valued at $25,000. Farther Finance Advisors LLC raised its stake in Texas Capital Bancshares by 1,381.8% in the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank's stock worth $30,000 after acquiring an additional 304 shares during the last quarter. Root Financial Partners LLC raised its stake in Texas Capital Bancshares by 85.2% in the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock worth $31,000 after acquiring an additional 150 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Texas Capital Bancshares during the 3rd quarter worth about $32,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Texas Capital Bancshares during the 4th quarter worth about $36,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TCBI has been the subject of several research analyst reports. Fundamental Research set a $110.00 price objective on Texas Capital Bancshares in a research note on Wednesday, July 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Citigroup increased their price target on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Barclays raised shares of Texas Capital Bancshares from an "underweight" rating to an "equal weight" rating and set a $100.00 price target for the company in a research report on Monday, August 3rd. Finally, Stephens decreased their price objective on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of "Hold" and a consensus price target of $105.83.

Insiders Place Their Bets

In related news, insider Ellen Detrich sold 2,045 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the completion of the transaction, the insider directly owned 7,529 shares in the company, valued at $753,125.87. The trade was a 21.36% decrease in their position. The transaction 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 business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total transaction of $353,325.00. Following the completion of the transaction, the insider owned 23,810 shares of the company's stock, valued at approximately $2,403,619.50. This represents a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 104,145 shares of company stock worth $10,570,584. Corporate insiders own 1.91% of the company's stock.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $98.30 on Friday. The firm has a market capitalization of $4.27 billion, a P/E ratio of 12.78, a PEG ratio of 1.20 and a beta of 0.68. The stock has a 50-day simple moving average of $101.32 and a two-hundred day simple moving average of $99.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares, Inc. has a fifty-two week low of $75.41 and a fifty-two week high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.01. The firm had revenue of $335.50 million for the quarter, compared to the consensus estimate of $333.37 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The company's revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, equities analysts forecast that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares's dividend payout ratio is currently 10.40%.

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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