Texas Capital Bancshares, Inc. $TCBI is Heartland Advisors Inc.’s 2nd Largest Position

Heartland Advisors Inc. reduced its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 4.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 333,275 shares of the bank’s stock after selling 16,437 shares during the period. Texas Capital Bancshares accounts for approximately 1.6% of Heartland Advisors Inc.’s portfolio, making the stock its 2nd largest holding. Heartland Advisors Inc. owned approximately 0.76% of Texas Capital Bancshares worth $31,621,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Evolve Private Wealth LLC boosted its position in Texas Capital Bancshares by 1.7% during the first quarter. Evolve Private Wealth LLC now owns 5,987 shares of the bank’s stock worth $568,000 after purchasing an additional 98 shares during the period. GAMMA Investing LLC raised its position in shares of Texas Capital Bancshares by 9.8% in the fourth quarter. GAMMA Investing LLC now owns 1,463 shares of the bank’s stock valued at $132,000 after purchasing an additional 131 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Texas Capital Bancshares by 2.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,079 shares of the bank’s stock valued at $550,000 after purchasing an additional 135 shares during the period. Root Financial Partners LLC lifted its stake in shares of Texas Capital Bancshares by 85.2% during the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock valued at $31,000 after buying an additional 150 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Texas Capital Bancshares by 22.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the bank’s stock valued at $119,000 after buying an additional 242 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TCBI has been the subject of a number of recent research reports. Citigroup upgraded shares of Texas Capital Bancshares from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $96.00 to $105.00 in a research note on Tuesday, June 30th. 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. Fundamental Research set a $110.00 price target on Texas Capital Bancshares in a report on Wednesday, July 1st. Finally, Zacks Research cut Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $106.17.

Texas Capital Bancshares Price Performance

TCBI stock opened at $105.07 on Friday. The firm has a 50 day moving average of $100.86 and a 200-day moving average of $99.16. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Texas Capital Bancshares, Inc. has a 12 month low of $75.41 and a 12 month high of $108.92. The firm has a market capitalization of $4.59 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.51 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 EPS 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 analysts’ expectations of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. Texas Capital Bancshares’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 earnings per share. As a group, sell-side analysts predict that Texas Capital Bancshares, Inc. will post 7.56 earnings per share for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given 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 was Monday, June 1st. Texas Capital Bancshares’s payout ratio is 10.75%.

Insiders Place Their Bets

In related news, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction on Monday, June 8th. The stock was sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the completion of the sale, the chief executive officer owned 167,635 shares of the company’s stock, valued at approximately $16,968,014.70. This trade represents a 22.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anna M. Alvarado sold 3,500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total value 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 102,100 shares of company stock valued at $10,366,023 over the last 90 days. Company 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.