Fig Financial Advisory Services Inc. ADV Has $229,000 Stock Holdings in Texas Capital Bancshares, Inc. $TCBI

Fig Financial Advisory Services Inc. ADV trimmed its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 68.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,287 shares of the bank’s stock after selling 5,051 shares during the quarter. Fig Financial Advisory Services Inc. ADV’s holdings in Texas Capital Bancshares were worth $229,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Texas Capital Bancshares in the second quarter valued at approximately $578,148,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Texas Capital Bancshares by 1.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,376,880 shares of the bank’s stock worth $305,743,000 after acquiring an additional 43,003 shares during the period. AQR Capital Management LLC raised its holdings in shares of Texas Capital Bancshares by 16.4% during the fourth quarter. AQR Capital Management LLC now owns 2,234,678 shares of the bank’s stock worth $202,328,000 after acquiring an additional 315,484 shares during the period. Geode Capital Management LLC lifted its position in Texas Capital Bancshares by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank’s stock valued at $108,436,000 after acquiring an additional 33,709 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Texas Capital Bancshares by 2.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 596,149 shares of the bank’s stock valued at $53,975,000 after acquiring an additional 12,486 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Texas Capital Bancshares 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 transaction of $5,010,390.00. Following the sale, the chief executive officer directly owned 167,635 shares of the company’s stock, valued at approximately $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ellen Detrich sold 2,045 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $100.03, for a total transaction of $204,561.35. Following the completion of 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 SEC filing for this sale provides additional information. Over the last three months, insiders have sold 104,145 shares of company stock worth $10,570,584. Insiders own 1.91% of the company’s stock.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $99.83 on Wednesday. The stock has a 50 day moving average price of $101.47 and a 200 day moving average price of $99.81. 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 1.00 and a current ratio of 1.00. The stock has a market capitalization of $4.34 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.68.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.01. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The firm had revenue of $335.50 million for the quarter, compared to analyst estimates of $333.37 million. During the same quarter in the previous year, the firm earned $1.63 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts predict that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current fiscal year.

Texas Capital Bancshares Announces Dividend

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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares’s payout ratio is presently 10.40%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TCBI. Citigroup increased their target price on Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Stephens reduced their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. TD Cowen decreased their price objective on Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating for the company in a report on Monday, July 27th. Piper Sandler lifted their target price on Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.