Texas Capital Bancshares (NASDAQ:TCBI) CEO Rob Holmes Sells 49,500 Shares

Key Points

• CEO Rob Holmes sold 49,500 shares of Texas Capital Bancshares on June 8 at an average price of $101.22, totaling about $5.01 million. After the sale, he still held 167,635 shares, and the transaction reduced his ownership by 22.8%.
• TCBI shares slipped 1.1% to $100.60 on the day, with trading volume slightly above average. The stock has a market cap of $4.39 billion and is trading near the upper end of its 52-week range.
• The company reported strong quarterly results, beating EPS and revenue expectations in its latest earnings release. Texas Capital Bancshares also declared a quarterly dividend of $0.20 per share, implying an annual yield of about 0.8%.

Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) CEO Rob Holmes sold 49,500 shares of the company'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 completion of the transaction, the chief executive officer owned 167,635 shares of the company's stock, valued at $16,968,014.70. The trade was a 22.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Texas Capital Bancshares Trading Down 1.1%

TCBI stock traded down $1.09 during trading on Monday, hitting $100.60. 451,920 shares of the company traded hands, compared to its average volume of 415,262. The firm has a market capitalization of $4.39 billion, a PE ratio of 13.52, a P/E/G ratio of 1.44 and a beta of 0.67. Texas Capital Bancshares, Inc. has a 1 year low of $73.61 and a 1 year high of $108.92. The company has a 50-day moving average of $99.48 and a 200-day moving average of $97.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.16. The company had revenue of $323.99 million during the quarter, compared to analysts' expectations of $318.10 million. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.Texas Capital Bancshares's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. Analysts predict that Texas Capital Bancshares, Inc. will post 7.63 earnings per share for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.20 per share. 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%. Texas Capital Bancshares's dividend payout ratio is presently 10.75%.

Wall Street Analyst Weigh In

A number of research firms have commented on TCBI. JPMorgan Chase & Co. lowered their price target on Texas Capital Bancshares from $105.00 to $100.00 and set an "underweight" rating for the company in a research report on Wednesday, April 1st. Zacks Research lowered Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Royal Bank Of Canada increased 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. Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, May 17th. Finally, Citigroup increased 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. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $104.09.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Texas Capital Bancshares in the 4th quarter worth $51,728,000. AQR Capital Management LLC boosted its stake in shares of Texas Capital Bancshares by 25.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank's stock worth $162,229,000 after buying an additional 384,748 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Texas Capital Bancshares by 2,707.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank's stock worth $29,496,000 after buying an additional 336,506 shares during the last quarter. Algert Global LLC boosted its stake in shares of Texas Capital Bancshares by 731.5% in the 3rd quarter. Algert Global LLC now owns 294,840 shares of the bank's stock worth $24,923,000 after buying an additional 259,380 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Texas Capital Bancshares in the 4th quarter worth $23,174,000. Institutional investors own 96.88% of the company's stock.

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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