Hodges Capital Management Inc. Sells 5,632 Shares of Texas Capital Bancshares, Inc. $TCBI

Hodges Capital Management Inc. reduced its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 4.4% in the 4th quarter, HoldingsChannel reports. The firm owned 121,627 shares of the bank’s stock after selling 5,632 shares during the period. Hodges Capital Management Inc.’s holdings in Texas Capital Bancshares were worth $11,012,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in Texas Capital Bancshares by 3.5% during the 4th quarter. Deutsche Bank AG now owns 37,540 shares of the bank’s stock valued at $3,399,000 after purchasing an additional 1,278 shares during the last quarter. Focus Partners Advisor Solutions LLC lifted its holdings in Texas Capital Bancshares by 33.5% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 4,332 shares of the bank’s stock valued at $392,000 after purchasing an additional 1,088 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Texas Capital Bancshares during the 4th quarter valued at about $864,000. Cerity Partners LLC lifted its holdings in Texas Capital Bancshares by 88.6% during the 4th quarter. Cerity Partners LLC now owns 75,119 shares of the bank’s stock valued at $6,801,000 after purchasing an additional 35,299 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in Texas Capital Bancshares during the 4th quarter valued at about $208,000. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Stock Down 0.8%

Shares of NASDAQ:TCBI opened at $100.19 on Thursday. Texas Capital Bancshares, Inc. has a one year low of $73.61 and a one year high of $108.92. The company has a 50 day moving average of $99.80 and a 200-day moving average of $97.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.43 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.42 by $0.16. The company had revenue of $323.99 million during 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%. Texas Capital Bancshares’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 EPS. On average, sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 7.63 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given 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 is Monday, June 1st. Texas Capital Bancshares’s dividend payout ratio (DPR) is currently 10.75%.

Insider Buying and Selling at Texas Capital Bancshares

In related news, CEO Rob C. Holmes sold 49,500 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the completion of the sale, the chief executive officer owned 167,635 shares in the company, valued at $16,968,014.70. This represents a 22.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anna M. Alvarado sold 3,500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total value of $353,325.00. Following the sale, the insider directly owned 23,810 shares in the company, valued at $2,403,619.50. The trade was a 12.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 102,100 shares of company stock valued at $10,366,023 in the last three months. 1.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports 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 company a “sector perform” rating in a report on Friday, April 24th. Citigroup raised their price objective on shares of Texas Capital Bancshares from $88.00 to $96.00 and gave the company a “sell” rating in a research report on Tuesday, April 28th. Piper Sandler raised their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Texas Capital Bancshares from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $104.09.

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.