Hsbc Holdings PLC Takes $938,000 Position in Texas Capital Bancshares, Inc. $TCBI

Hsbc Holdings PLC bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,900 shares of the bank’s stock, valued at approximately $938,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TCBI. Hillsdale Investment Management Inc. raised its position in Texas Capital Bancshares by 57,777.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 52,090 shares of the bank’s stock worth $4,716,000 after acquiring an additional 52,000 shares during the period. William Blair Investment Management LLC grew its position in shares of Texas Capital Bancshares by 17.2% in the fourth quarter. William Blair Investment Management LLC now owns 468,000 shares of the bank’s stock valued at $42,373,000 after purchasing an additional 68,539 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Texas Capital Bancshares by 2.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 847,583 shares of the bank’s stock worth $76,740,000 after purchasing an additional 18,258 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Texas Capital Bancshares during the first quarter worth about $1,214,000. Finally, Hodges Capital Management Inc. raised its position in shares of Texas Capital Bancshares by 14.0% during the 1st quarter. Hodges Capital Management Inc. now owns 138,660 shares of the bank’s stock worth $13,156,000 after purchasing an additional 17,033 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insider Transactions at Texas Capital Bancshares

In other news, CEO Rob C. Holmes sold 49,500 shares of the firm’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 transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $353,325.00. Following 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 position. The SEC filing for this sale provides additional information. Insiders sold 104,145 shares of company stock worth $10,570,584 in the last 90 days. Insiders own 1.91% of the company’s stock.

Texas Capital Bancshares Trading Down 0.3%

Shares of TCBI stock opened at $98.42 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares, Inc. has a twelve month low of $75.41 and a twelve month high of $108.92. The company’s 50-day moving average price is $101.37 and its 200-day moving average price is $99.60. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 1.46 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.01. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The firm had revenue of $335.50 million during the quarter, compared to analysts’ expectations of $333.37 million. During the same period last year, the business earned $1.63 earnings per share. Texas Capital Bancshares’s revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts predict that Texas Capital Bancshares, Inc. will post 7.33 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TCBI shares. JPMorgan Chase & Co. raised their price target on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday, July 1st. Stephens cut their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Wall Street Zen cut Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Piper Sandler raised their target price on Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, TD Cowen lowered their price target on Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating on the stock in a research note on Monday. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $105.83.

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.