Fisher Asset Management LLC Reduces Stock Holdings in Texas Capital Bancshares, Inc. $TCBI

Fisher Asset Management LLC lessened its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 7.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 291,356 shares of the bank’s stock after selling 24,390 shares during the quarter. Fisher Asset Management LLC’s holdings in Texas Capital Bancshares were worth $26,379,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of TCBI. AQR Capital Management LLC raised its position in shares of Texas Capital Bancshares by 25.1% during the 3rd quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock worth $162,229,000 after purchasing an additional 384,748 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Texas Capital Bancshares by 2,707.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock worth $29,496,000 after purchasing an additional 336,506 shares during the last quarter. Algert Global LLC raised its position in shares of Texas Capital Bancshares by 731.5% during the 3rd quarter. Algert Global LLC now owns 294,840 shares of the bank’s stock worth $24,923,000 after purchasing an additional 259,380 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Texas Capital Bancshares by 148.8% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 379,331 shares of the bank’s stock worth $32,065,000 after purchasing an additional 226,872 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Texas Capital Bancshares by 56.8% during the 3rd quarter. UBS Group AG now owns 403,692 shares of the bank’s stock worth $34,124,000 after purchasing an additional 146,181 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Zacks Research downgraded Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. JPMorgan Chase & Co. cut their price objective on Texas Capital Bancshares from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Texas Capital Bancshares in a research report on Wednesday, January 28th. Citigroup lifted their price objective on Texas Capital Bancshares from $88.00 to $96.00 and gave the stock a “sell” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.09.

Texas Capital Bancshares Trading Up 1.0%

Shares of TCBI opened at $100.37 on Wednesday. The stock has a fifty day moving average of $98.24 and a two-hundred day moving average of $96.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $4.38 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.41 and a beta of 0.68. Texas Capital Bancshares, Inc. has a fifty-two week low of $70.11 and a fifty-two week high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.16. The company had revenue of $323.99 million during the quarter, compared to the consensus estimate of $318.10 million. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.Texas Capital Bancshares’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 EPS. As a group, analysts forecast that Texas Capital Bancshares, Inc. will post 7.63 EPS for the current year.

Texas Capital Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, June 1st.

Insiders Place Their Bets

In other news, Director Paola M. Arbour acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $91,500.00. Following the acquisition, the director directly owned 6,671 shares in the company, valued at approximately $610,396.50. This represents a 17.63% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Stallings acquired 5,500 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were purchased at an average price of $22.80 per share, with a total value of $125,400.00. Following the completion of the acquisition, the director owned 175,087 shares in the company, valued at approximately $3,991,983.60. The trade was a 3.24% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 26,500 shares of company stock valued at $670,700. Insiders own 1.91% of the company’s stock.

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.