Texas Capital Bancshares (NASDAQ:TCBI) Issues Earnings Results

Texas Capital Bancshares (NASDAQ:TCBI) posted its quarterly earnings results on Wednesday. The bank reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.01, FiscalAI reports. The business had revenue of $335.50 million for the quarter, compared to the consensus estimate of $333.37 million. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI traded down $0.74 during mid-day trading on Wednesday, reaching $102.91. 544,850 shares of the stock were exchanged, compared to its average volume of 486,898. The company has a market capitalization of $4.49 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.49 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day moving average is $101.09 and its 200-day moving average is $99.37. Texas Capital Bancshares has a 1 year low of $75.41 and a 1 year high of $108.92.

Texas Capital Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Texas Capital Bancshares’s payout ratio is 10.75%.

Insider Transactions at Texas Capital Bancshares

In other news, CEO Rob C. Holmes sold 49,500 shares of the 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 sale, the chief executive officer directly owned 167,635 shares of the company’s stock, valued at $16,968,014.70. This represents a 22.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anna M. Alvarado sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total value of $353,325.00. Following the sale, the insider owned 23,810 shares in the company, valued at $2,403,619.50. This trade represents a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 102,100 shares of company stock valued at $10,366,023. Insiders own 1.91% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $2,062,000 after buying an additional 1,206 shares in the last quarter. Goldman Sachs Group Inc. raised its position in 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 acquiring an additional 20,231 shares during the period. United Services Automobile Association acquired a new position in Texas Capital Bancshares during the first quarter worth $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Texas Capital Bancshares by 29.5% during the first 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 purchasing an additional 24,538 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Texas Capital Bancshares by 34.0% in the second quarter. Invesco Ltd. now owns 149,559 shares of the bank’s stock valued at $11,875,000 after purchasing an additional 37,982 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TCBI has been the subject of a number of research reports. Citigroup raised Texas Capital Bancshares from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $96.00 to $105.00 in a report on Tuesday, June 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Wall Street Zen cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Fundamental Research set a $110.00 price objective on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. Finally, Piper Sandler increased their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and an average price target of $106.17.

About Texas Capital Bancshares

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.