Texas Capital Bancshares, Inc. $TCBI Shares Purchased by Granahan Investment Management LLC

Granahan Investment Management LLC raised its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,369 shares of the bank’s stock after purchasing an additional 8,579 shares during the period. Granahan Investment Management LLC owned about 0.40% of Texas Capital Bancshares worth $16,150,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TCBI. Norges Bank purchased a new position in Texas Capital Bancshares in the 4th quarter valued at about $51,728,000. AQR Capital Management LLC lifted its holdings in 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 valued at $162,229,000 after purchasing an additional 384,748 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in 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 valued at $29,496,000 after purchasing an additional 336,506 shares in the last quarter. Algert Global LLC lifted its holdings in Texas Capital Bancshares by 731.5% in the 3rd quarter. Algert Global LLC now owns 294,840 shares of the bank’s stock valued at $24,923,000 after purchasing an additional 259,380 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Texas Capital Bancshares during the 4th quarter worth about $23,174,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Stock Up 0.4%

TCBI opened at $101.10 on Wednesday. The firm has a 50 day moving average price of $100.22 and a 200 day moving average price of $97.70. The company has a market cap of $4.42 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.43 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 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) last posted 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. The firm had revenue of $323.99 million during the quarter, compared to the consensus estimate of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Sell-side analysts expect that Texas Capital Bancshares, Inc. will post 7.63 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

The firm also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Texas Capital Bancshares’s dividend payout ratio is 10.75%.

Insider Buying and Selling

In related news, CEO Rob C. Holmes sold 49,500 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the completion of the sale, the chief executive officer owned 167,635 shares of the company’s stock, valued at approximately $16,968,014.70. This represents a 22.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anna M. Alvarado sold 3,500 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,403,619.50. This trade represents a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 102,100 shares of company stock valued at $10,366,023. Corporate insiders own 1.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Citigroup increased their price objective on shares of Texas Capital Bancshares from $88.00 to $96.00 and gave the stock a “sell” rating in a report on Tuesday, April 28th. Royal Bank Of Canada increased 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 report on Friday, April 24th. Piper Sandler increased their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Zacks Research lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $104.09.

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.