Commerce Bank Acquires Shares of 5,636 Texas Capital Bancshares, Inc. $TCBI

Commerce Bank bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 5,636 shares of the bank’s stock, valued at approximately $582,000.

A number of other large investors have also modified their holdings of the business. Quantbot Technologies LP acquired a new stake in shares of Texas Capital Bancshares in the 2nd quarter valued at approximately $5,586,000. Evolve Private Wealth LLC purchased a new stake in shares of Texas Capital Bancshares in the second quarter valued at approximately $497,000. William Blair Investment Management LLC acquired a new position in Texas Capital Bancshares during the second quarter worth $20,799,000. Ieq Capital LLC acquired a new position in Texas Capital Bancshares during the second quarter worth $3,553,000. Finally, Heartland Advisors Inc. purchased a new position in Texas Capital Bancshares in the second quarter worth $28,992,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Stock Down 0.4%

TCBI opened at $98.10 on Friday. The business’s fifty day moving average is $101.18 and its two-hundred day moving average is $99.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.20 and a beta of 0.68. Texas Capital Bancshares, Inc. has a one year low of $75.41 and a one year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating 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 company had revenue of $335.50 million for the quarter, compared to analyst estimates of $333.37 million. During the same quarter in the prior year, the company earned $1.63 earnings per share. Texas Capital Bancshares’s revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Texas Capital Bancshares, Inc. will post 7.39 EPS 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. Investors of record on Tuesday, September 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis 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 presently 10.40%.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, insider Ellen Detrich sold 2,045 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $100.03, for a total transaction of $204,561.35. Following the completion of the transaction, the insider directly owned 7,529 shares in the company, valued at approximately $753,125.87. This trade represents a 21.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares 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 of the company’s stock, valued at approximately $16,968,014.70. The trade was a 22.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 104,145 shares of company stock valued at $10,570,584. Insiders own 1.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TCBI shares. JPMorgan Chase & Co. raised their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Citigroup increased their price target on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Fundamental Research set a $110.00 price objective on shares of Texas Capital Bancshares in a research note on Wednesday, July 1st. Finally, Wall Street Zen downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $105.83.

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.