Fig Financial Advisory Services Inc. ADV Sells 5,051 Shares of Texas Capital Bancshares, Inc. $TCBI

Fig Financial Advisory Services Inc. ADV reduced its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 68.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,287 shares of the bank’s stock after selling 5,051 shares during the quarter. Fig Financial Advisory Services Inc. ADV’s holdings in Texas Capital Bancshares were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in TCBI. Evolve Private Wealth LLC raised its stake in Texas Capital Bancshares by 1.7% in the 1st quarter. Evolve Private Wealth LLC now owns 5,987 shares of the bank’s stock valued at $568,000 after acquiring an additional 98 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Texas Capital Bancshares by 2.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,079 shares of the bank’s stock valued at $550,000 after purchasing an additional 135 shares during the last quarter. Root Financial Partners LLC increased its holdings 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 purchasing an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 189 shares during the period. Finally, Inspire Investing LLC raised its position in shares of Texas Capital Bancshares by 5.0% in the first quarter. Inspire Investing LLC now owns 5,399 shares of the bank’s stock valued at $512,000 after purchasing an additional 259 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, CEO Rob C. Holmes sold 49,500 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the transaction, the chief executive officer directly owned 167,635 shares of the company’s stock, valued at $16,968,014.70. This trade represents a 22.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellen Detrich sold 2,045 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $100.03, for a total transaction of $204,561.35. Following the completion of the transaction, the insider owned 7,529 shares of the company’s stock, valued at $753,125.87. The trade was a 21.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 104,145 shares of company stock valued at $10,570,584 over the last quarter. 1.91% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Fundamental Research set a $110.00 price target on shares of Texas Capital Bancshares in a research note on Wednesday, July 1st. Piper Sandler raised their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. 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 note on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Finally, TD Cowen reduced their price target on Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating for the company in a research note on Monday, July 27th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.83.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $99.83 on Wednesday. The stock’s fifty day moving average price is $101.47 and its two-hundred day moving average price is $99.81. Texas Capital Bancshares, Inc. has a one year low of $75.41 and a one year high of $108.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $4.34 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.68.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.01. The firm had revenue of $335.50 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.63 EPS. As a group, research analysts expect that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid 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 payout ratio is 10.40%.

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.