Granahan Investment Management LLC Sells 7,002 Shares of Texas Capital Bancshares, Inc. $TCBI

Granahan Investment Management LLC lowered its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 171,367 shares of the bank’s stock after selling 7,002 shares during the quarter. Granahan Investment Management LLC’s holdings in Texas Capital Bancshares were worth $16,259,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in Texas Capital Bancshares during the 4th quarter worth approximately $51,728,000. AQR Capital Management LLC increased its position in Texas Capital Bancshares by 25.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock valued at $162,229,000 after acquiring an additional 384,748 shares during the period. Balyasny Asset Management L.P. increased its position in Texas Capital Bancshares by 2,707.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock valued at $29,496,000 after acquiring an additional 336,506 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at $23,174,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Texas Capital Bancshares during the first quarter valued at $18,391,000. Institutional investors own 96.88% of the company’s stock.

Insider Buying and Selling at Texas Capital Bancshares

In related news, insider Anna M. Alvarado sold 3,500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total value of $353,325.00. Following the transaction, the insider owned 23,810 shares in the company, valued at $2,403,619.50. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $5,010,390.00. Following the sale, the chief executive officer directly owned 167,635 shares in the company, valued at $16,968,014.70. This trade represents a 22.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 102,100 shares of company stock worth $10,366,023. 1.91% of the stock is owned by company insiders.

Analysts Set New Price Targets

TCBI has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Fundamental Research set a $110.00 price objective on Texas Capital Bancshares in a report on Wednesday, July 1st. Zacks Research lowered Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Stephens cut their target price on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Wall Street Zen lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $106.17.

Texas Capital Bancshares Stock Up 0.6%

Texas Capital Bancshares stock opened at $99.25 on Friday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.43 and a beta of 0.67. Texas Capital Bancshares, Inc. has a 52-week low of $75.41 and a 52-week high of $108.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.01 and a current ratio of 1.00. The firm has a 50 day moving average price of $101.32 and a two-hundred day moving average price of $99.51.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, beating 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 analyst estimates of $333.37 million. During the same period in the prior year, the firm posted $1.63 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts predict that Texas Capital Bancshares, Inc. will post 7.48 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

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

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.