Ellen Detrich Sells 2,045 Shares of Texas Capital Bancshares (NASDAQ:TCBI) Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) insider Ellen Detrich sold 2,045 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $100.03, for a total value of $204,561.35. Following the sale, the insider owned 7,529 shares of the company’s stock, valued at $753,125.87. This trade represents a 21.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $98.42 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. The stock has a market cap of $4.28 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.46 and a beta of 0.67. The stock’s fifty day simple moving average is $101.37 and its two-hundred day simple moving average is $99.60. Texas Capital Bancshares, Inc. has a 1-year low of $75.41 and a 1-year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.01. The firm had revenue of $335.50 million during the quarter, compared to analyst estimates of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. As a group, analysts forecast that Texas Capital Bancshares, Inc. will post 7.33 EPS for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Capital Bancshares’s dividend payout ratio is presently 10.40%.

Institutional Investors Weigh In On Texas Capital Bancshares

Several large investors have recently modified their holdings of TCBI. Evolve Private Wealth LLC lifted its stake in Texas Capital Bancshares by 1.7% in the first quarter. Evolve Private Wealth LLC now owns 5,987 shares of the bank’s stock valued at $568,000 after purchasing an additional 98 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Texas Capital Bancshares by 2.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,079 shares of the bank’s stock worth $550,000 after buying an additional 135 shares during the last quarter. Root Financial Partners LLC raised its stake in shares of Texas Capital Bancshares by 85.2% in the first quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock valued at $31,000 after buying an additional 150 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Texas Capital Bancshares by 14.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $143,000 after buying an additional 189 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Texas Capital Bancshares by 169.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock valued at $35,000 after buying an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Piper Sandler boosted their target price on Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. lifted their price target on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. Stephens reduced their price objective on 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. Finally, Wall Street Zen lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $105.83.

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.