Peregrine Capital Management LLC Decreases Stock Position in Texas Capital Bancshares, Inc. $TCBI

Peregrine Capital Management LLC lowered its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,285 shares of the bank’s stock after selling 5,148 shares during the period. Peregrine Capital Management LLC owned about 0.12% of Texas Capital Bancshares worth $5,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Danske Bank A S acquired a new position in Texas Capital Bancshares during the 3rd quarter worth approximately $25,000. Farther Finance Advisors LLC increased its position in shares of Texas Capital Bancshares by 1,381.8% in the 4th 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 last quarter. Advisory Services Network LLC acquired a new stake in shares of Texas Capital Bancshares in the 3rd quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of 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 valued at $35,000 after purchasing an additional 246 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Texas Capital Bancshares during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analyst Upgrades and Downgrades

TCBI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday. Citigroup upgraded Texas Capital Bancshares from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $96.00 to $105.00 in a research note on Tuesday. Fundamental Research set a $110.00 price target on shares of Texas Capital Bancshares in a research note on Wednesday. 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, Zacks Research downgraded shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Four equities research 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, the stock currently has a consensus rating of “Hold” and an average target price of $106.17.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $104.54 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $100.23 and a 200-day simple moving average of $98.37. Texas Capital Bancshares, Inc. has a 12 month low of $75.41 and a 12 month high of $108.92. The stock has a market capitalization of $4.57 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.47 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. The firm had revenue of $323.99 million for the quarter, compared to analyst estimates of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. Texas Capital Bancshares’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm posted $0.92 EPS. Equities analysts predict that Texas Capital Bancshares, Inc. will post 7.63 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued 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 was Monday, June 1st. Texas Capital Bancshares’s dividend payout ratio is currently 10.75%.

Insider Transactions at Texas Capital Bancshares

In related news, CEO Rob C. Holmes sold 49,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 167,635 shares in the company, valued at $16,968,014.70. This trade represents a 22.80% decrease in their ownership of the stock. The sale 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 Texas Capital Bancshares stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total value of $353,325.00. Following the completion of the sale, the insider directly owned 23,810 shares in the company, valued at $2,403,619.50. This represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 102,100 shares of company stock valued at $10,366,023. 1.91% of the stock is owned by 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.