Insider Selling: Texas Capital Bancshares (NASDAQ:TCBI) CEO Sells 49,100 Shares of Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) CEO Rob Holmes sold 49,100 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $101.88, for a total transaction of $5,002,308.00. Following the transaction, the chief executive officer directly owned 217,135 shares in the company, valued at $22,121,713.80. The trade was a 18.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Texas Capital Bancshares Trading Down 1.1%

Shares of TCBI traded down $1.09 on Monday, hitting $100.60. 451,920 shares of the stock traded hands, compared to its average volume of 415,262. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4.39 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.44 and a beta of 0.67. The stock’s 50 day moving average is $99.48 and its two-hundred day moving average is $97.15. Texas Capital Bancshares, Inc. has a 1 year low of $73.61 and a 1 year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.16. The business had revenue of $323.99 million for the quarter, compared to the consensus estimate of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share. As a group, sell-side analysts predict that Texas Capital Bancshares, Inc. will post 7.63 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Texas Capital Bancshares’s dividend payout ratio is presently 10.75%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TCBI shares. Royal Bank Of Canada upped their price objective on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Citigroup increased their price target on shares of Texas Capital Bancshares from $88.00 to $96.00 and gave the stock a “sell” rating in a research note on Tuesday, April 28th. Zacks Research downgraded shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Piper Sandler increased their price target on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of Texas Capital Bancshares from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $104.09.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in shares of Texas Capital Bancshares by 13.6% in the 1st quarter. Bank of America Corp DE now owns 378,515 shares of the bank’s stock valued at $35,914,000 after acquiring an additional 45,220 shares during the period. Edgestream Partners L.P. acquired a new stake in Texas Capital Bancshares during the 1st quarter valued at $6,690,000. Amundi acquired a new stake in Texas Capital Bancshares during the 1st quarter valued at $231,000. EverSource Wealth Advisors LLC grew its holdings in Texas Capital Bancshares by 14.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $143,000 after purchasing an additional 189 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in Texas Capital Bancshares by 26.1% during the 1st quarter. California State Teachers Retirement System now owns 55,409 shares of the bank’s stock valued at $5,257,000 after purchasing an additional 11,482 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.