New York State Teachers Retirement System Has $3.93 Million Stake in Texas Capital Bancshares, Inc. $TCBI

New York State Teachers Retirement System decreased its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 39.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 41,432 shares of the bank’s stock after selling 27,080 shares during the quarter. New York State Teachers Retirement System’s holdings in Texas Capital Bancshares were worth $3,931,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Texas Capital Bancshares in the fourth quarter worth about $51,728,000. AQR Capital Management LLC increased its holdings 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 valued at $162,229,000 after acquiring an additional 384,748 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Texas Capital Bancshares by 2,707.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock valued at $29,496,000 after acquiring an additional 336,506 shares in the last quarter. Algert Global LLC lifted its holdings in Texas Capital Bancshares by 731.5% in 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. Finally, Alyeska Investment Group L.P. acquired a new stake in Texas Capital Bancshares in the 4th quarter worth approximately $23,174,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $101.47 on Thursday. The company has a 50-day moving average of $100.41 and a 200-day moving average of $98.69. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.49 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 company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The business had revenue of $323.99 million for the quarter, compared to analysts’ expectations of $318.10 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 7.56 earnings per share for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were 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 of this dividend was Monday, June 1st. Texas Capital Bancshares’s payout ratio is presently 10.75%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TCBI shares. Piper Sandler increased their price target on Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Fundamental Research set a $110.00 price objective on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a report on Monday. Finally, Wall Street Zen lowered shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $106.17.

Insider Activity at Texas Capital Bancshares

In related news, CEO Rob C. Holmes sold 49,500 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $101.22, for a total value of $5,010,390.00. Following the sale, the chief executive officer owned 167,635 shares of the company’s stock, valued at $16,968,014.70. The trade was a 22.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anna M. Alvarado sold 3,500 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total value of $353,325.00. Following the completion of the sale, the insider owned 23,810 shares in the company, valued at $2,403,619.50. This trade represents a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 102,100 shares of company stock worth $10,366,023. Corporate insiders own 1.91% of the company’s stock.

Texas Capital Bancshares Company 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.