Heartland Advisors Inc. Invests $28.99 Million in Texas Capital Bancshares, Inc. $TCBI

Heartland Advisors Inc. bought a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 280,763 shares of the bank’s stock, valued at approximately $28,992,000. Texas Capital Bancshares accounts for about 1.3% of Heartland Advisors Inc.’s portfolio, making the stock its 5th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Danske Bank A S acquired a new stake in Texas Capital Bancshares in the 3rd quarter valued at $25,000. Farther Finance Advisors LLC raised its position in Texas Capital Bancshares by 1,381.8% in the fourth quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock valued at $30,000 after purchasing an additional 304 shares during the period. Root Financial Partners LLC lifted its stake in shares of Texas Capital Bancshares by 85.2% during the first quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 150 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Texas Capital Bancshares during the third quarter worth about $32,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TCBI shares. Citigroup increased their target price on Texas Capital Bancshares from $105.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Royal Bank Of Canada boosted their price target 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. Stephens decreased their price target on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Fundamental Research set a $110.00 price objective on shares of Texas Capital Bancshares in a research report on Wednesday, July 1st. Finally, Wall Street Zen lowered shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $105.83.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $98.30 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average of $101.32 and a two-hundred day moving average of $99.76. The stock has a market cap of $4.27 billion, a P/E ratio of 12.78, a PEG ratio of 1.19 and a beta of 0.68. Texas Capital Bancshares, Inc. has a 1-year low of $75.41 and a 1-year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results 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. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The business had revenue of $335.50 million for the quarter, compared to analyst estimates of $333.37 million. During the same period in the previous year, the company earned $1.63 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, research analysts expect that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current fiscal year.

Texas Capital Bancshares Announces Dividend

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

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, insider Ellen Detrich sold 2,045 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $100.03, for a total transaction of $204,561.35. Following the sale, the insider directly owned 7,529 shares in the company, valued at $753,125.87. The trade was a 21.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rob C. Holmes sold 49,500 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the completion of the transaction, the chief executive officer directly owned 167,635 shares in the company, valued at approximately $16,968,014.70. The trade was a 22.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 104,145 shares of company stock worth $10,570,584 in the last 90 days. 1.91% of the stock is owned by corporate insiders.

Texas Capital Bancshares 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.