Wellington Management Group LLP Grows Stock Position in Texas Capital Bancshares, Inc. $TCBI

Wellington Management Group LLP raised its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 47.3% in the 2nd quarter, Holdings Channel reports. The fund owned 483,210 shares of the bank’s stock after purchasing an additional 155,201 shares during the period. Wellington Management Group LLP’s holdings in Texas Capital Bancshares were worth $49,896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. purchased a new stake in Texas Capital Bancshares during the 2nd quarter worth approximately $578,148,000. T. Rowe Price Investment Management Inc. grew its position in shares of Texas Capital Bancshares by 1.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,376,880 shares of the bank’s stock worth $305,743,000 after buying an additional 43,003 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Texas Capital Bancshares by 16.4% in the fourth quarter. AQR Capital Management LLC now owns 2,234,678 shares of the bank’s stock worth $202,328,000 after buying an additional 315,484 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Texas Capital Bancshares by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank’s stock worth $108,436,000 after buying an additional 33,709 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Texas Capital Bancshares in the second quarter valued at $75,429,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on TCBI shares. Barclays upgraded shares of Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price objective on the stock in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Citigroup increased their price target on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Stephens lowered their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Finally, Fundamental Research set a $110.00 price objective on Texas Capital Bancshares in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $105.83.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, insider Ellen Detrich sold 2,045 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $100.03, for a total value of $204,561.35. Following the sale, 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 filing with the SEC, which can be accessed through this link. Also, insider Anna M. Alvarado sold 3,500 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total transaction of $353,325.00. Following the completion of the sale, the insider owned 23,810 shares in the company, valued at approximately $2,403,619.50. This represents a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,045 shares of company stock worth $5,568,276 over the last ninety days. Company insiders own 1.91% of the company’s stock.

Texas Capital Bancshares Stock Up 1.2%

TCBI stock opened at $97.81 on Friday. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.18 and a beta of 0.66. Texas Capital Bancshares, Inc. has a 1-year low of $75.41 and a 1-year high of $108.92. The firm has a fifty day moving average price of $100.76 and a two-hundred day moving average price of $99.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00.

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, topping analysts’ consensus estimates 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 company had revenue of $335.50 million for the quarter, compared to the consensus estimate of $333.37 million. During the same period last year, the firm posted $1.63 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts predict that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

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

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.