Man Group plc Makes New Investment in Texas Capital Bancshares, Inc. $TCBI

Man Group plc purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 48,737 shares of the bank’s stock, valued at approximately $5,033,000. Man Group plc owned approximately 0.11% of Texas Capital Bancshares as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Texas Capital Bancshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank’s stock worth $2,062,000 after buying an additional 1,206 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Texas Capital Bancshares by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock valued at $41,837,000 after acquiring an additional 20,231 shares in the last quarter. United Services Automobile Association purchased a new position in Texas Capital Bancshares during the 1st quarter valued at about $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Texas Capital Bancshares by 29.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank’s stock worth $8,050,000 after acquiring an additional 24,538 shares during the last quarter. Finally, Invesco Ltd. raised its position in Texas Capital Bancshares by 34.0% during the second quarter. Invesco Ltd. now owns 149,559 shares of the bank’s stock worth $11,875,000 after acquiring an additional 37,982 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $98.64 on Monday. The firm has a market cap of $4.29 billion, a P/E ratio of 12.83, a PEG ratio of 1.20 and a beta of 0.68. Texas Capital Bancshares, Inc. has a 1-year low of $75.41 and a 1-year high of $108.92. 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 firm’s 50-day simple moving average is $101.17 and its 200-day simple moving average is $99.51.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. The firm had revenue of $335.50 million during the quarter, compared to the consensus estimate of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. Texas Capital Bancshares’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.63 earnings per share. As a group, equities analysts forecast that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Texas Capital Bancshares’s payout ratio is currently 10.40%.

Insider Transactions at Texas Capital Bancshares

In related news, insider Anna M. Alvarado sold 3,500 shares of the stock in a transaction on 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 directly owned 23,810 shares of the company’s stock, valued at approximately $2,403,619.50. This trade represents a 12.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction on Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the completion of the transaction, the chief executive officer owned 167,635 shares in the company, valued at $16,968,014.70. The trade was a 22.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 104,145 shares of company stock worth $10,570,584 in the last ninety days. Insiders own 1.91% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on TCBI shares. Stephens lowered their price target on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Citigroup lifted their price objective on Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. increased 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. Barclays raised Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price target for the company in a research report on Monday, August 3rd. Finally, TD Cowen cut their price target on Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating for the company in a report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently 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.