Ieq Capital LLC Acquires New Stake in Texas Capital Bancshares, Inc. $TCBI

Ieq Capital LLC acquired a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 34,404 shares of the bank’s stock, valued at approximately $3,553,000. Ieq Capital LLC owned about 0.08% of Texas Capital Bancshares as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Texas Capital Bancshares in the second quarter valued at about $578,148,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Texas Capital Bancshares by 1.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,376,880 shares of the bank’s stock valued at $305,743,000 after acquiring an additional 43,003 shares during the period. AQR Capital Management LLC boosted its stake in shares of Texas Capital Bancshares by 16.4% during the 4th quarter. AQR Capital Management LLC now owns 2,234,678 shares of the bank’s stock worth $202,328,000 after acquiring an additional 315,484 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Texas Capital Bancshares by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank’s stock worth $108,436,000 after acquiring an additional 33,709 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Texas Capital Bancshares by 2.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 596,149 shares of the bank’s stock worth $53,975,000 after acquiring an additional 12,486 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Trading Down 0.3%

Shares of TCBI opened at $98.00 on Tuesday. 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, Inc. has a 1-year low of $75.41 and a 1-year high of $108.92. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.20 and a beta of 0.68. The firm has a 50 day simple moving average of $101.26 and a 200-day simple moving average of $99.68.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. The firm had revenue of $335.50 million for the quarter, compared to analyst estimates of $333.37 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.Texas Capital Bancshares’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. Equities analysts forecast that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 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 (DPR) is presently 10.40%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TCBI shares. Barclays raised Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price objective for the company in a report on Monday, August 3rd. Fundamental Research set a $110.00 target price on Texas Capital Bancshares in a report on Wednesday, July 1st. Stephens dropped their price target on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Wall Street Zen downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, TD Cowen cut their price target on Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating for the company in a research note on Monday, July 27th. Four 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.83.

Insider Activity at Texas Capital Bancshares

In related news, insider Anna M. Alvarado sold 3,500 shares of Texas Capital Bancshares 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 owned 23,810 shares in the company, valued at approximately $2,403,619.50. This trade represents a 12.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ellen Detrich sold 2,045 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $100.03, for a total transaction of $204,561.35. Following the completion of the transaction, the insider directly owned 7,529 shares of the company’s stock, valued at $753,125.87. The trade was a 21.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,145 shares of company stock valued at $10,570,584 over the last quarter. Insiders own 1.91% of the company’s stock.

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.