Key Points
- Texas Capital Bancshares CEO Rob Holmes sold 49,100 shares on June 5 at an average price of $101.88, generating about $5.0 million. After the sale, he still held 217,135 shares, reducing his position by 18.44%.
- The bank recently reported strong quarterly earnings, with EPS of $1.58 beating estimates of $1.42 and revenue rising 15.5% year over year to $323.99 million. Analysts now expect full-year EPS of 7.63.
- Texas Capital Bancshares also announced a quarterly dividend of $0.20 per share, payable June 15, implying an annualized yield of 0.8%. The stock currently carries a consensus Hold rating with an average price target of $104.09.
Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) CEO Rob Holmes sold 49,100 shares of Texas Capital Bancshares stock in a transaction on Friday, June 5th. The shares were sold at an average price of $101.88, for a total value of $5,002,308.00. Following the completion of the sale, the chief executive officer owned 217,135 shares in the company, valued at $22,121,713.80. This represents a 18.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Texas Capital Bancshares Price Performance
NASDAQ:TCBI opened at $100.60 on Tuesday. Texas Capital Bancshares, Inc. has a 52 week low of $73.61 and a 52 week high of $108.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $4.39 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.44 and a beta of 0.67. The stock's fifty day moving average is $99.48 and its two-hundred day moving average is $97.15.
Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its 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 net margin of 17.71% and a return on equity of 10.76%. The company had revenue of $323.99 million for the quarter, compared to analysts' expectations of $318.10 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. Texas Capital Bancshares's revenue for the quarter was up 15.5% compared to the same quarter last year. Equities 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 announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.20 dividend. The ex-dividend date of this dividend 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 presently 10.75%.
Analyst Upgrades and Downgrades
TCBI has been the topic of a number of research analyst reports. Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, May 17th. Royal Bank Of Canada boosted their price objective on Texas Capital Bancshares from $110.00 to $114.00 and gave the company a "sector perform" rating in a report on Friday, April 24th. JPMorgan Chase & Co. cut their price objective 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. Piper Sandler boosted 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. Finally, Citigroup boosted their price objective on Texas Capital Bancshares from $88.00 to $96.00 and gave the company a "sell" rating in a report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Texas Capital Bancshares has an average rating of "Hold" and a consensus price target of $104.09.
Get Our Latest Report on TCBI
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Evolve Private Wealth LLC grew its position in shares of 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 buying an additional 98 shares during the last quarter. Arizona State Retirement System grew its position in shares of Texas Capital Bancshares by 0.9% in the 3rd quarter. Arizona State Retirement System now owns 13,575 shares of the bank's stock valued at $1,147,000 after buying an additional 126 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Texas Capital Bancshares by 4.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,902 shares of the bank's stock valued at $245,000 after buying an additional 126 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Texas Capital Bancshares by 9.8% in the 4th quarter. GAMMA Investing LLC now owns 1,463 shares of the bank's stock valued at $132,000 after buying an additional 131 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Texas Capital Bancshares by 2.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,079 shares of the bank's stock worth $550,000 after purchasing an additional 135 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.
Texas Capital Bancshares Company Profile
(
Get Free Report)
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.
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