Key Points
- Insider Ellen Detrich sold 2,045 Texas Capital Bancshares shares at an average price of $100.03, generating $204,561.35 and reducing her direct ownership by 21.36%.
- Texas Capital Bancshares exceeded quarterly expectations, reporting $1.88 EPS versus the $1.87 consensus and revenue of $335.5 million, up 9.1% year over year.
- The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 0.8% yield; analysts maintain a consensus “Hold” rating with a $105.83 price target.
Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) insider Ellen Detrich sold 2,045 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the sale, the insider directly owned 7,529 shares of the company's stock, valued at approximately $753,125.87. This represents a 21.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Texas Capital Bancshares Trading Up 0.3%
NASDAQ:TCBI opened at $98.71 on Wednesday. The stock has a fifty day simple moving average of $101.38 and a 200 day simple moving average of $99.59. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.44 and a beta of 0.67. Texas Capital Bancshares, Inc. has a 1-year low of $75.41 and a 1-year high of $108.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15.
Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.01. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The firm had revenue of $335.50 million for the quarter, compared to the consensus estimate of $333.37 million. During the same quarter in the previous year, the company earned $1.63 EPS. The business's revenue for the quarter was up 9.1% compared to the same quarter last year. Sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 7.41 earnings per share for the current year.
Texas Capital Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. Texas Capital Bancshares's payout ratio is currently 10.40%.
Hedge Funds Weigh In On Texas Capital Bancshares
Institutional investors and hedge funds have recently modified their holdings of the stock. Evolve Private Wealth LLC raised its holdings in shares of Texas Capital Bancshares by 1.7% during the first quarter. Evolve Private Wealth LLC now owns 5,987 shares of the bank's stock worth $568,000 after acquiring an additional 98 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Texas Capital Bancshares by 2.3% during the fourth 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 during the last quarter. Root Financial Partners LLC grew its stake in Texas Capital Bancshares by 85.2% in the first 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. EverSource Wealth Advisors LLC increased its position in Texas Capital Bancshares by 14.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank's stock worth $143,000 after purchasing an additional 189 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Texas Capital Bancshares by 169.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank's stock worth $35,000 after purchasing an additional 246 shares during the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have weighed in on TCBI shares. Royal Bank Of Canada lifted their price objective on shares of 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. TD Cowen reduced their price objective on Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating for the company in a research note on Monday. Piper Sandler raised their price objective on Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. lifted their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an "underweight" rating in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $105.83.
Check Out Our Latest Report 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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