Madison Asset Management LLC Cuts Stake in Texas Capital Bancshares, Inc. $TCBI

Madison Asset Management LLC lowered its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 29.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,003 shares of the bank’s stock after selling 17,993 shares during the quarter. Madison Asset Management LLC’s holdings in Texas Capital Bancshares were worth $4,080,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TCBI. JPMorgan Chase & Co. grew its position in shares of Texas Capital Bancshares by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 263,975 shares of the bank’s stock valued at $22,314,000 after acquiring an additional 14,240 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Texas Capital Bancshares by 57,777.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 52,090 shares of the bank’s stock worth $4,716,000 after purchasing an additional 52,000 shares during the period. William Blair Investment Management LLC raised its holdings in shares of Texas Capital Bancshares by 17.2% in the 4th quarter. William Blair Investment Management LLC now owns 468,000 shares of the bank’s stock worth $42,373,000 after purchasing an additional 68,539 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Texas Capital Bancshares by 2.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 847,583 shares of the bank’s stock valued at $76,740,000 after purchasing an additional 18,258 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc grew its holdings in Texas Capital Bancshares by 39.9% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 349,089 shares of the bank’s stock valued at $31,607,000 after purchasing an additional 99,482 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Trading Up 0.1%

Shares of TCBI stock opened at $103.65 on Wednesday. The company’s fifty day simple moving average is $101.09 and its two-hundred day simple moving average is $99.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. 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 capitalization of $4.53 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.49 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. The firm had revenue of $323.99 million during the quarter, compared to analyst estimates of $318.10 million. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. As a group, analysts anticipate that Texas Capital Bancshares, Inc. will post 7.56 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

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

Insider Activity

In other Texas Capital Bancshares news, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the completion of the transaction, the chief executive officer owned 167,635 shares of the company’s stock, valued at $16,968,014.70. The trade was a 22.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anna M. Alvarado sold 3,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total value of $353,325.00. Following 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. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 102,100 shares of company stock valued at $10,366,023. 1.91% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TCBI shares. Wall Street Zen downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. upped their price target on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Piper Sandler lifted 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. Citigroup upgraded Texas Capital Bancshares from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $96.00 to $105.00 in a research note on Tuesday, June 30th. Finally, Fundamental Research set a $110.00 price objective on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $106.17.

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.