Cibc World Market Inc. Purchases Shares of 71,646 Texas Capital Bancshares, Inc. $TCBI

Cibc World Market Inc. purchased a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the second quarter, HoldingsChannel reports. The firm purchased 71,646 shares of the bank’s stock, valued at approximately $7,398,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Texas Capital Bancshares in the second quarter worth $4,496,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Texas Capital Bancshares during the 2nd quarter valued at $75,429,000. Commerce Bank bought a new position in Texas Capital Bancshares in the 2nd quarter worth $582,000. Quantbot Technologies LP bought a new position in Texas Capital Bancshares in the 2nd quarter worth $5,586,000. Finally, Evolve Private Wealth LLC purchased a new stake in Texas Capital Bancshares in the 2nd quarter worth $497,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ:TCBI opened at $98.59 on Wednesday. The firm has a fifty day simple moving average of $101.21 and a two-hundred day simple moving average of $99.63. Texas Capital Bancshares, Inc. has a 52 week low of $75.41 and a 52 week high of $108.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $4.29 billion, a P/E ratio of 12.82, a PEG ratio of 1.19 and a beta of 0.68.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $335.50 million for the quarter, compared to analysts’ expectations of $333.37 million. During the same period in the prior year, the company earned $1.63 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 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 10.40%.

Insider Buying and Selling at Texas Capital Bancshares

In other news, insider Anna M. Alvarado sold 3,500 shares of the business’s stock in a transaction that occurred 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 transaction, the insider owned 23,810 shares of the company’s stock, valued at approximately $2,403,619.50. The trade was a 12.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $204,561.35. Following the sale, the insider owned 7,529 shares in the company, valued at $753,125.87. The trade was a 21.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 104,145 shares of company stock worth $10,570,584 over the last ninety days. Company insiders own 1.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TCBI. Wall Street Zen cut Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Citigroup upped their price objective on Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. increased their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Barclays raised Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 target price on the stock in a research note on Monday, August 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and an average 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.