Texas Capital Bancshares, Inc. $TCBI Stock Position Trimmed by Heartland Advisors Inc.

Heartland Advisors Inc. cut its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 333,275 shares of the bank’s stock after selling 16,437 shares during the quarter. Texas Capital Bancshares accounts for about 1.6% of Heartland Advisors Inc.’s holdings, making the stock its 2nd biggest holding. Heartland Advisors Inc.’s holdings in Texas Capital Bancshares were worth $31,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Texas Capital Bancshares in the 4th quarter worth $51,728,000. AQR Capital Management LLC grew its position in Texas Capital Bancshares by 25.1% in the third quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock worth $162,229,000 after acquiring an additional 384,748 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Texas Capital Bancshares by 2,707.2% in the third quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock worth $29,496,000 after acquiring an additional 336,506 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Texas Capital Bancshares in the fourth quarter valued at $23,174,000. Finally, UBS Group AG increased its stake in Texas Capital Bancshares by 56.8% in the third quarter. UBS Group AG now owns 403,692 shares of the bank’s stock valued at $34,124,000 after acquiring an additional 146,181 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Price Performance

TCBI stock opened at $105.07 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. Texas Capital Bancshares, Inc. has a 52 week low of $75.41 and a 52 week high of $108.92. The firm’s fifty day moving average is $100.86 and its 200 day moving average is $99.16. The firm has a market cap of $4.59 billion, a P/E ratio of 14.12, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. The company had revenue of $323.99 million for the quarter, compared to analysts’ expectations of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. Research analysts predict that Texas Capital Bancshares, Inc. will post 7.56 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

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

Insider Activity

In related news, CEO Rob C. Holmes sold 49,500 shares of the stock in a transaction dated Monday, June 8th. The stock was 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 directly owned 167,635 shares in the company, valued at $16,968,014.70. This represents a 22.80% decrease in their position. The sale 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 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 of the company’s stock, valued at $2,403,619.50. This represents a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 102,100 shares of company stock worth $10,366,023. Company insiders own 1.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TCBI shares. Citigroup upgraded Texas Capital Bancshares from a “sell” rating to a “neutral” rating and raised their price target for the company from $96.00 to $105.00 in a research report on Tuesday, June 30th. Fundamental Research set a $110.00 price objective on Texas Capital Bancshares in a report on Wednesday, July 1st. Piper Sandler increased their price objective 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. JPMorgan Chase & Co. raised 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, July 1st. Finally, Wall Street Zen cut Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and a consensus target price 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.