Heartland Advisors Inc. Buys Shares of 280,763 Texas Capital Bancshares, Inc. $TCBI

Heartland Advisors Inc. purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 280,763 shares of the bank’s stock, valued at approximately $28,992,000. Texas Capital Bancshares makes up 1.3% of Heartland Advisors Inc.’s holdings, making the stock its 5th largest holding. Heartland Advisors Inc. owned 0.65% of Texas Capital Bancshares at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Allworth Financial LP acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at $136,000. Madison Asset Management LLC acquired a new position in Texas Capital Bancshares in the 2nd quarter valued at about $4,447,000. Tieton Capital Management LLC acquired a new position in Texas Capital Bancshares in the 2nd quarter valued at about $11,880,000. West Family Investments Inc. purchased a new position in Texas Capital Bancshares in the 2nd quarter valued at about $288,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth about $200,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. Barclays raised Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price target on the stock in a research note on Monday, August 3rd. Finally, Piper Sandler raised their price objective on Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $105.83.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, insider Anna M. Alvarado sold 3,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total transaction of $353,325.00. Following the completion of the sale, the insider directly owned 23,810 shares in the company, valued at $2,403,619.50. This represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rob C. Holmes sold 49,500 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was 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 in the company, valued at approximately $16,968,014.70. This trade represents a 22.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 104,145 shares of company stock worth $10,570,584. 1.91% of the stock is owned by insiders.

Texas Capital Bancshares Price Performance

TCBI opened at $98.30 on Friday. Texas Capital Bancshares, Inc. has a 1 year low of $75.41 and a 1 year high of $108.92. The company’s 50 day simple moving average is $101.32 and its 200 day simple moving average is $99.76. The stock has a market capitalization of $4.27 billion, a PE ratio of 12.78, a P/E/G ratio of 1.19 and a beta of 0.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, topping the consensus estimate of $1.87 by $0.01. The firm had revenue of $335.50 million during the quarter, compared to analyst estimates of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. Texas Capital Bancshares’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 earnings per share. As a group, sell-side analysts expect that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current year.

Texas Capital Bancshares Announces Dividend

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

Texas Capital Bancshares Company Profile

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.