Connor Clark & Lunn Investment Management Ltd. Buys Shares of 43,542 Texas Capital Bancshares, Inc. $TCBI

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 43,542 shares of the bank’s stock, valued at approximately $4,496,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TCBI. BlackRock Inc. acquired a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $578,148,000. T. Rowe Price Investment Management Inc. increased its stake in Texas Capital Bancshares by 1.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,376,880 shares of the bank’s stock valued at $305,743,000 after acquiring an additional 43,003 shares during the last quarter. AQR Capital Management LLC increased its stake in Texas Capital Bancshares by 16.4% in the fourth quarter. AQR Capital Management LLC now owns 2,234,678 shares of the bank’s stock valued at $202,328,000 after acquiring an additional 315,484 shares during the last quarter. Geode Capital Management LLC raised its position in Texas Capital Bancshares by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank’s stock valued at $108,436,000 after purchasing an additional 33,709 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Texas Capital Bancshares during the second quarter valued at approximately $75,429,000. Institutional investors own 96.88% of the company’s stock.

Insider Activity at Texas Capital Bancshares

In related news, 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 transaction of $353,325.00. Following the sale, the insider owned 23,810 shares of the company’s stock, valued at $2,403,619.50. This trade represents a 12.82% decrease in their position. 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 business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $100.03, for a total value of $204,561.35. Following the sale, the insider owned 7,529 shares in the company, valued at $753,125.87. This represents a 21.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,145 shares of company stock valued at $10,570,584 in the last 90 days. 1.91% of the stock is owned by corporate insiders.

Texas Capital Bancshares Price Performance

TCBI stock opened at $98.10 on Friday. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.20 and a beta of 0.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50 day simple moving average of $101.18 and a 200 day simple moving average of $99.56. Texas Capital Bancshares, Inc. has a 1 year low of $75.41 and a 1 year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results 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 firm had revenue of $335.50 million for the quarter, compared to analyst estimates of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $1.63 earnings per share. Research analysts anticipate that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Citigroup boosted their price target on Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Wall Street Zen downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Stephens reduced their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $105.83.

About Texas Capital Bancshares

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.