Key Points
- Insider sale: Texas Capital Bancshares insider Anna Alvarado sold 3,500 shares on June 9 at an average price of $100.95, totaling $353,325. After the sale, she still held 23,810 shares.
- Earnings beat: The company recently reported quarterly EPS of $1.58, topping analyst estimates of $1.42, while revenue rose 15.5% year over year to $323.99 million.
- Dividend and sentiment: Texas Capital Bancshares declared a quarterly dividend of $0.20 per share, and analysts currently rate the stock a consensus Hold with an average target price of $104.09.
Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) insider Anna Alvarado sold 3,500 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total value of $353,325.00. Following the transaction, the insider directly owned 23,810 shares in the company, valued at approximately $2,403,619.50. This represents a 12.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Texas Capital Bancshares Trading Down 0.8%
Shares of Texas Capital Bancshares stock opened at $100.19 on Thursday. Texas Capital Bancshares, Inc. has a fifty-two week low of $73.61 and a fifty-two week high of $108.92. The firm has a market cap of $4.38 billion, a PE ratio of 13.47, a P/E/G ratio of 1.43 and a beta of 0.67. The business's fifty day moving average is $99.80 and its two-hundred day moving average is $97.37. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27.
Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $318.10 million. During the same quarter in the prior year, the company posted $0.92 EPS. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts anticipate that Texas Capital Bancshares, Inc. will post 7.63 earnings per share 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 paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st. Texas Capital Bancshares's dividend payout ratio is currently 10.75%.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the company. Evolve Private Wealth LLC raised 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 worth $568,000 after buying an additional 98 shares during the period. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 131 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Texas Capital Bancshares by 2.3% in the 4th 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 in the last quarter. PNC Financial Services Group Inc. increased its holdings in Texas Capital Bancshares by 4.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,665 shares of the bank's stock valued at $310,000 after purchasing an additional 142 shares in the last quarter. Finally, Root Financial Partners LLC increased its holdings in Texas Capital Bancshares by 85.2% in the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock valued at $31,000 after purchasing an additional 150 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have weighed in on TCBI. Piper Sandler increased their price target on Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Citigroup increased their target price on Texas Capital Bancshares from $88.00 to $96.00 and gave the stock a "sell" rating in a research report on Tuesday, April 28th. Zacks Research lowered Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. 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 report on Friday, April 24th. Finally, Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, May 17th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus target price of $104.09.
Get Our Latest Analysis on TCBI
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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