Texas Capital Bancshares (NASDAQ:TCBI) CEO Sells $5,010,390.00 in Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) CEO Rob Holmes sold 49,500 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the transaction, the chief executive officer owned 167,635 shares in the company, valued at $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Texas Capital Bancshares Stock Down 0.8%

Shares of TCBI opened at $100.19 on Thursday. Texas Capital Bancshares, Inc. has a 52 week low of $73.61 and a 52 week high of $108.92. The firm has a market cap of $4.38 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The firm’s 50-day simple moving average is $99.80 and its 200 day simple moving average is $97.37. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01.

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 net margin of 17.71% and a return on equity of 10.76%. The business 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 business earned $0.92 EPS. Texas Capital Bancshares’s quarterly revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that Texas Capital Bancshares, Inc. will post 7.63 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.20 dividend. 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 10.75%.

Institutional Trading of Texas Capital Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in TCBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Texas Capital Bancshares by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank’s stock worth $2,062,000 after acquiring an additional 1,206 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Texas Capital Bancshares by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock worth $41,837,000 after acquiring an additional 20,231 shares during the period. United Services Automobile Association bought a new stake in shares of Texas Capital Bancshares during the 1st quarter worth approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Texas Capital Bancshares by 29.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank’s stock worth $8,050,000 after acquiring an additional 24,538 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Texas Capital Bancshares by 34.0% during the 2nd quarter. Invesco Ltd. now owns 149,559 shares of the bank’s stock worth $11,875,000 after acquiring an additional 37,982 shares during the period. Institutional investors own 96.88% of the company’s stock.

Analyst Upgrades and Downgrades

TCBI has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of Texas Capital Bancshares from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Wall Street Zen upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Piper Sandler upped their price target on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Royal Bank Of Canada upped their price target on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Finally, Zacks Research lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock 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.