Legato Capital Management LLC Takes $553,000 Position in Texas Capital Bancshares, Inc. $TCBI

Legato Capital Management LLC purchased a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,106 shares of the bank’s stock, valued at approximately $553,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Global Retirement Partners LLC increased its position in shares of Texas Capital Bancshares by 5,428.9% during the 4th quarter. Global Retirement Partners LLC now owns 2,488 shares of the bank’s stock valued at $225,000 after purchasing an additional 2,443 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Texas Capital Bancshares by 2.8% during the 4th quarter. Handelsbanken Fonder AB now owns 11,123 shares of the bank’s stock valued at $1,007,000 after purchasing an additional 300 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Texas Capital Bancshares by 4.3% during the 4th quarter. ProShare Advisors LLC now owns 10,147 shares of the bank’s stock valued at $919,000 after purchasing an additional 417 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Texas Capital Bancshares by 15.0% during the 4th quarter. HighTower Advisors LLC now owns 12,950 shares of the bank’s stock valued at $1,172,000 after purchasing an additional 1,686 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Texas Capital Bancshares by 10.6% during the 4th quarter. Bessemer Group Inc. now owns 366,914 shares of the bank’s stock valued at $33,220,000 after purchasing an additional 35,047 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insider Buying and Selling

In related news, Director Paola M. Arbour acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $91,500.00. Following the purchase, the director owned 6,671 shares in the company, valued at $610,396.50. The trade was a 17.63% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert W. Stallings purchased 20,000 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was acquired at an average price of $22.69 per share, with a total value of $453,800.00. Following the completion of the purchase, the director directly owned 169,587 shares in the company, valued at $3,847,929.03. This trade represents a 13.37% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 26,500 shares of company stock valued at $670,700. 1.91% of the stock is currently owned by corporate insiders.

Texas Capital Bancshares Trading Up 1.0%

Shares of NASDAQ:TCBI opened at $100.37 on Wednesday. The stock has a 50 day moving average of $98.24 and a 200 day moving average of $96.24. The company has a market cap of $4.38 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.41 and a beta of 0.68. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Texas Capital Bancshares, Inc. has a 12-month low of $70.11 and a 12-month high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. The company had revenue of $323.99 million during the quarter, compared to the consensus estimate of $318.10 million. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 EPS. As a group, equities research analysts expect that Texas Capital Bancshares, Inc. will post 7.63 EPS for the current year.

Texas Capital Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%.

Analyst Ratings Changes

TCBI has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of 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 shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Piper Sandler upped their price target on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Wall Street Zen raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Royal Bank Of Canada upped their price target on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $104.09.

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.