Insider Selling: Texas Capital Bancshares (NASDAQ:TCBI) Insider Sells 3,500 Shares of Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) insider Anna Alvarado sold 3,500 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total value of $353,325.00. Following the completion of the transaction, the insider owned 23,810 shares of the company’s stock, valued at $2,403,619.50. The trade was a 12.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Texas Capital Bancshares Price Performance

Shares of TCBI traded down $0.76 during trading hours on Wednesday, reaching $100.19. The stock had a trading volume of 512,505 shares, compared to its average volume of 466,026. Texas Capital Bancshares, Inc. has a 12 month low of $73.61 and a 12 month high of $108.92. The stock has a market capitalization of $4.38 billion, a PE ratio of 13.47, a PEG ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50-day moving average is $99.65 and its two-hundred day moving average is $97.26.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.The company had revenue of $323.99 million during the quarter, compared to analysts’ expectations of $318.10 million. During the same period in the prior year, the company earned $0.92 EPS. Texas Capital Bancshares’s revenue was up 15.5% compared to the same quarter last year. Research analysts expect that Texas Capital Bancshares, Inc. will post 7.63 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, June 1st. Texas Capital Bancshares’s dividend payout ratio is presently 10.75%.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of institutional investors have recently modified their holdings of TCBI. T. Rowe Price Investment Management Inc. grew its holdings in Texas Capital Bancshares by 1.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,376,880 shares of the bank’s stock worth $305,743,000 after acquiring an additional 43,003 shares during the period. AQR Capital Management LLC boosted its holdings in Texas Capital Bancshares by 16.4% during the 4th quarter. AQR Capital Management LLC now owns 2,234,678 shares of the bank’s stock worth $202,328,000 after acquiring an additional 315,484 shares during the last quarter. Geode Capital Management LLC grew its position in Texas Capital Bancshares by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank’s stock worth $108,436,000 after purchasing an additional 33,709 shares in the last quarter. Azora Capital LP increased its stake in Texas Capital Bancshares by 11.5% in the 3rd quarter. Azora Capital LP now owns 1,036,613 shares of the bank’s stock valued at $87,625,000 after buying an additional 106,599 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Texas Capital Bancshares by 2.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 847,583 shares of the bank’s stock valued at $76,740,000 after buying an additional 18,258 shares during the last quarter. 96.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TCBI shares. Piper Sandler increased their price objective on Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, April 24th. JPMorgan Chase & Co. cut their target price on Texas Capital Bancshares from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Wednesday, April 1st. Zacks Research lowered Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Wall Street Zen upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Citigroup lifted their price objective on Texas Capital Bancshares from $88.00 to $96.00 and gave the stock a “sell” rating in a research note on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.