Man Group plc Purchases Shares of 48,737 Texas Capital Bancshares, Inc. $TCBI

Man Group plc acquired a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 48,737 shares of the bank’s stock, valued at approximately $5,033,000.

Several other large investors also recently made changes to their positions in TCBI. Jupiter Topco LLC purchased a new position in shares of Texas Capital Bancshares in the 2nd quarter valued at $1,978,000. Canada Pension Plan Investment Board acquired a new position in shares of Texas Capital Bancshares during the 2nd quarter valued at $1,270,000. Legal & General Group Plc purchased a new stake in Texas Capital Bancshares during the 2nd quarter worth $6,029,000. The Manufacturers Life Insurance Company purchased a new stake in Texas Capital Bancshares during the 2nd quarter worth $4,228,000. Finally, Cibc World Market Inc. acquired a new stake in Texas Capital Bancshares in the 2nd quarter valued at $7,398,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Transactions at Texas Capital Bancshares

In related news, insider Ellen Detrich sold 2,045 shares of Texas Capital Bancshares stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $100.03, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rob C. Holmes sold 49,500 shares of the business’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 directly owned 167,635 shares of the company’s stock, valued at approximately $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 104,145 shares of company stock valued at $10,570,584. Insiders own 1.91% of the company’s stock.

Texas Capital Bancshares Price Performance

TCBI stock opened at $98.64 on Monday. Texas Capital Bancshares, Inc. has a twelve month low of $75.41 and a twelve month high of $108.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $4.29 billion, a P/E ratio of 12.83, a PEG ratio of 1.20 and a beta of 0.68. The firm has a 50 day simple moving average of $101.17 and a 200-day simple moving average of $99.51.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $333.37 million. During the same period in the prior year, the company posted $1.63 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts predict that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given 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 payout ratio is presently 10.40%.

Analysts Set New Price Targets

Several research firms have commented on TCBI. Wall Street Zen raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday. Stephens lowered their target price 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. Fundamental Research set a $110.00 target price on Texas Capital Bancshares in a report on Wednesday, July 1st. Citigroup boosted their price target on Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Barclays upgraded Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price target for the company in a report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock 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.