Texas Capital Bancshares, Inc. $TCBI Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 69.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 282,682 shares of the bank’s stock after buying an additional 115,455 shares during the quarter. Principal Financial Group Inc. owned about 0.65% of Texas Capital Bancshares worth $26,821,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its stake in shares of Texas Capital Bancshares by 3,700.0% in the 1st quarter. Fifth Third Bancorp now owns 16,986 shares of the bank’s stock valued at $1,612,000 after purchasing an additional 16,539 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Texas Capital Bancshares during the first quarter worth approximately $938,000. Hodges Capital Management Inc. lifted its holdings in shares of Texas Capital Bancshares by 14.0% during the first 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 period. HB Wealth Management LLC acquired a new stake in shares of Texas Capital Bancshares during the first quarter worth $209,000. Finally, Root Financial Partners LLC grew its position in Texas Capital Bancshares by 85.2% in the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock valued at $31,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on TCBI shares. Weiss Ratings restated a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Citigroup upgraded shares of Texas Capital Bancshares from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $96.00 to $105.00 in a research note on Tuesday, June 30th. 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 assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.17.

Insider Buying and Selling

In other Texas Capital Bancshares news, insider Anna M. Alvarado sold 3,500 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was 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 of the company’s stock, valued at approximately $2,403,619.50. This represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rob C. Holmes sold 49,500 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer owned 167,635 shares of the company’s stock, valued at approximately $16,968,014.70. This represents a 22.80% 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 worth $10,366,023. Insiders own 1.91% of the company’s stock.

Texas Capital Bancshares Stock Down 1.5%

Shares of NASDAQ TCBI opened at $103.50 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. Texas Capital Bancshares, Inc. has a 52 week low of $75.41 and a 52 week high of $108.92. The firm has a 50-day moving average price of $100.96 and a 200 day moving average price of $99.28. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.51 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.16. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The company had revenue of $323.99 million for the quarter, compared to analyst estimates of $318.10 million. During the same period in the prior year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 7.56 EPS for the current fiscal year.

Texas Capital Bancshares Announces Dividend

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 $0.20 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. Texas Capital Bancshares’s dividend payout ratio is currently 10.75%.

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.