Texas Capital Bancshares, Inc. $TCBI Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 7.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 109,500 shares of the bank’s stock after selling 8,514 shares during the quarter. Renaissance Technologies LLC’s holdings in Texas Capital Bancshares were worth $10,389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Danske Bank A S purchased a new stake in Texas Capital Bancshares during the 3rd quarter worth about $25,000. Farther Finance Advisors LLC boosted its position in shares of Texas Capital Bancshares by 1,381.8% during the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock worth $30,000 after acquiring an additional 304 shares in the last quarter. Root Financial Partners LLC increased its holdings in shares of Texas Capital Bancshares by 85.2% in the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock valued at $31,000 after acquiring an additional 150 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at about $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Texas Capital Bancshares by 169.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock worth $35,000 after acquiring an additional 246 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Trading Up 0.1%

NASDAQ:TCBI opened at $98.85 on Friday. The company has a market capitalization of $4.30 billion, a PE ratio of 12.85, a P/E/G ratio of 1.21 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 stock’s 50 day moving average price is $101.36 and its 200 day moving average price is $99.60. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. The company had revenue of $335.50 million during the quarter, compared to analysts’ expectations of $333.37 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 earnings per share. On average, research analysts anticipate that Texas Capital Bancshares, Inc. will post 7.33 EPS for the current year.

Texas Capital Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.20 dividend. 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 Tuesday, September 1st. Texas Capital Bancshares’s payout ratio is presently 10.40%.

Insider Activity at Texas Capital Bancshares

In related news, CEO Rob C. Holmes sold 49,500 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ellen Detrich sold 2,045 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $100.03, for a total transaction of $204,561.35. Following the sale, the insider owned 7,529 shares of the company’s stock, valued at approximately $753,125.87. This represents a 21.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 104,145 shares of company stock worth $10,570,584 in the last 90 days. 1.91% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TCBI. Stephens lowered their price target on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Piper Sandler raised their price objective 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. Royal Bank Of Canada upped their target price 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 increased their target price on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Wall Street Zen cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $105.83.

Texas Capital Bancshares 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.