Granahan Investment Management LLC Has $16.26 Million Holdings in Texas Capital Bancshares, Inc. $TCBI

Granahan Investment Management LLC trimmed its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 171,367 shares of the bank’s stock after selling 7,002 shares during the quarter. Granahan Investment Management LLC owned about 0.39% of Texas Capital Bancshares worth $16,259,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Danske Bank A S bought a new position in shares of Texas Capital Bancshares in the third quarter worth $25,000. Farther Finance Advisors LLC lifted its position in Texas Capital Bancshares by 1,381.8% during the fourth quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock worth $30,000 after purchasing an additional 304 shares during the period. Root Financial Partners LLC lifted its position in Texas Capital Bancshares by 85.2% during the first quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 150 shares during the period. Advisory Services Network LLC acquired a new stake in Texas Capital Bancshares during the third quarter worth about $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake 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 in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stephens dropped their target price on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Piper Sandler lifted their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Wall Street Zen cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $106.17.

Insider Buying and Selling

In other Texas Capital Bancshares news, insider Anna M. Alvarado sold 3,500 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $5,010,390.00. Following the sale, the chief executive officer directly owned 167,635 shares in the company, valued at approximately $16,968,014.70. The trade was a 22.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 102,100 shares of company stock worth $10,366,023 in the last 90 days. Company insiders own 1.91% of the company’s stock.

Texas Capital Bancshares Stock Up 0.6%

Shares of NASDAQ TCBI opened at $99.25 on Friday. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.43 and a beta of 0.67. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares, Inc. has a 12 month low of $75.41 and a 12 month high of $108.92. The stock has a 50-day moving average price of $101.32 and a two-hundred day moving average price of $99.51.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. The company had revenue of $335.50 million for 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%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $1.63 EPS. As a group, analysts forecast that Texas Capital Bancshares, Inc. will post 7.48 earnings per share for the current fiscal year.

Texas Capital Bancshares Announces Dividend

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

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.