Edgestream Partners L.P. Acquires New Stake in Texas Capital Bancshares, Inc. $TCBI

Edgestream Partners L.P. bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 70,513 shares of the bank’s stock, valued at approximately $6,690,000.

Other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Texas Capital Bancshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank’s stock valued at $2,062,000 after purchasing an additional 1,206 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Texas Capital Bancshares by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock worth $41,837,000 after buying an additional 20,231 shares in the last quarter. United Services Automobile Association acquired a new stake in Texas Capital Bancshares in the 1st quarter valued at approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Texas Capital Bancshares by 29.5% in 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 valued at $8,050,000 after buying an additional 24,538 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Texas Capital Bancshares by 34.0% in the 2nd quarter. Invesco Ltd. now owns 149,559 shares of the bank’s stock valued at $11,875,000 after acquiring an additional 37,982 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

Analyst Ratings Changes

TCBI has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Stephens lowered their price objective on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. TD Cowen cut their price objective on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating on the stock in a research report on Monday. Wall Street Zen cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and a consensus target price of $105.83.

Texas Capital Bancshares Stock Up 0.3%

TCBI stock opened at $98.74 on Friday. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 1.21 and a beta of 0.67. Texas Capital Bancshares, Inc. has a twelve month low of $75.41 and a twelve month high of $108.92. The business has a 50 day moving average price of $101.37 and a two-hundred day moving average price of $99.61. 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) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.01. The company had revenue of $335.50 million for the quarter, compared to analysts’ expectations of $333.37 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. Analysts anticipate that Texas Capital Bancshares, Inc. will post 7.33 EPS for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Capital Bancshares’s dividend payout ratio is 10.40%.

Insiders Place Their Bets

In other news, CEO Rob C. Holmes sold 49,500 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the transaction, the chief executive officer directly owned 167,635 shares in the company, valued at $16,968,014.70. The trade was a 22.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anna M. Alvarado sold 3,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total transaction of $353,325.00. Following the completion of the sale, the insider directly owned 23,810 shares in the company, valued at approximately $2,403,619.50. The trade was a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 104,145 shares of company stock valued at $10,570,584. 1.91% of the stock is currently owned by corporate insiders.

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.