Madison Asset Management LLC Sells 17,993 Shares of Texas Capital Bancshares, Inc. $TCBI

Madison Asset Management LLC lessened its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 29.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 43,003 shares of the bank’s stock after selling 17,993 shares during the period. Madison Asset Management LLC owned approximately 0.10% of Texas Capital Bancshares worth $4,080,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Danske Bank A S acquired a new position in shares of Texas Capital Bancshares during the third quarter worth approximately $25,000. Farther Finance Advisors LLC increased its stake in Texas Capital Bancshares by 1,381.8% during the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock valued at $30,000 after purchasing an additional 304 shares in the last quarter. Root Financial Partners LLC increased its stake in 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 purchasing an additional 150 shares in the last quarter. Advisory Services Network LLC acquired a new position in Texas Capital Bancshares during the third quarter worth $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Texas Capital Bancshares by 169.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock worth $35,000 after buying an additional 246 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TCBI. Royal Bank Of Canada lifted their price objective on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Piper Sandler upped their target price on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. JPMorgan Chase & Co. raised their price target on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Wall Street Zen downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Citigroup raised Texas Capital Bancshares from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $96.00 to $105.00 in a report on Tuesday, June 30th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $106.17.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $103.65 on Wednesday. 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 0.27, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.49 and a beta of 0.67. The company has a fifty day moving average price of $101.09 and a 200-day moving average price of $99.37.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, April 23rd. The bank reported $1.58 EPS for the quarter, beating the consensus estimate 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 company had revenue of $323.99 million during the quarter, compared to the consensus estimate of $318.10 million. During the same quarter in the prior year, the company 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 predict that Texas Capital Bancshares, Inc. will post 7.56 EPS for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.20 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.80 annualized dividend and a yield of 0.8%. Texas Capital Bancshares’s dividend payout ratio (DPR) is 10.75%.

Insider Activity

In other Texas Capital Bancshares news, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the transaction, the chief executive officer owned 167,635 shares of the company’s stock, valued at $16,968,014.70. This trade represents a 22.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $353,325.00. Following the completion of the transaction, the insider owned 23,810 shares in the company, valued at $2,403,619.50. The trade was a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 102,100 shares of company stock valued at $10,366,023. Company insiders own 1.91% of the company’s stock.

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.