Texas Capital Bancshares (NASDAQ:TCBI) CEO Rob Holmes Sells 49,100 Shares of Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) CEO Rob Holmes sold 49,100 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $101.88, for a total transaction of $5,002,308.00. Following the sale, the chief executive officer directly owned 217,135 shares in the company, valued at $22,121,713.80. The trade was a 18.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI opened at $100.60 on Tuesday. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.44 and a beta of 0.67. Texas Capital Bancshares, Inc. has a 12 month low of $73.61 and a 12 month high of $108.92. The firm’s 50 day simple moving average is $99.48 and its 200-day simple moving average is $97.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. The business had revenue of $323.99 million for the quarter, compared to analysts’ expectations of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The business’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $0.92 EPS. Analysts expect that Texas Capital Bancshares, Inc. will post 7.63 EPS for the current 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 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 currently 10.75%.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of institutional investors have recently added to or reduced their stakes in TCBI. Norges Bank purchased a new position in Texas Capital Bancshares during the fourth quarter worth approximately $51,728,000. AQR Capital Management LLC increased its position in Texas Capital Bancshares by 25.1% during the third quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock worth $162,229,000 after purchasing an additional 384,748 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Texas Capital Bancshares by 2,707.2% during the third quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock worth $29,496,000 after purchasing an additional 336,506 shares during the last quarter. Algert Global LLC increased its position in Texas Capital Bancshares by 731.5% during the third quarter. Algert Global LLC now owns 294,840 shares of the bank’s stock worth $24,923,000 after purchasing an additional 259,380 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Texas Capital Bancshares during the fourth quarter worth about $23,174,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Zacks Research downgraded Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Wall Street Zen raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. JPMorgan Chase & Co. cut 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 report on Wednesday, April 1st. Piper Sandler boosted their price target 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, Citigroup boosted their price target 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. Four investment 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, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $104.09.

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.