Renaissance Technologies LLC Lowers Position in Texas Capital Bancshares, Inc. $TCBI

Renaissance Technologies LLC trimmed its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 7.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,500 shares of the bank’s stock after selling 8,514 shares during the quarter. Renaissance Technologies LLC owned 0.25% of Texas Capital Bancshares worth $10,389,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TCBI. Hillsdale Investment Management Inc. increased its position in shares of Texas Capital Bancshares by 57,777.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 52,090 shares of the bank’s stock valued at $4,716,000 after acquiring an additional 52,000 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Texas Capital Bancshares by 17.2% in the 4th quarter. William Blair Investment Management LLC now owns 468,000 shares of the bank’s stock worth $42,373,000 after acquiring an additional 68,539 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Texas Capital Bancshares by 2.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 847,583 shares of the bank’s stock worth $76,740,000 after acquiring an additional 18,258 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its position in shares of Texas Capital Bancshares by 39.9% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 349,089 shares of the bank’s stock worth $31,607,000 after purchasing an additional 99,482 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Texas Capital Bancshares during the 1st quarter worth approximately $1,214,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $98.85 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares, Inc. has a 52-week low of $75.41 and a 52-week high of $108.92. The firm has a market cap of $4.30 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.21 and a beta of 0.67. The company’s 50 day moving average is $101.36 and its two-hundred day moving average is $99.60.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, topping the consensus estimate of $1.87 by $0.01. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The business had revenue of $335.50 million during the quarter, compared to the consensus estimate of $333.37 million. During the same quarter in the previous year, the firm posted $1.63 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts expect that Texas Capital Bancshares, Inc. will post 7.33 EPS for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

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

Insider Buying and Selling

In other news, insider Anna M. Alvarado sold 3,500 shares of Texas Capital Bancshares 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 completion of the transaction, the insider owned 23,810 shares in the company, 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 the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 167,635 shares of the company’s stock, valued at approximately $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 104,145 shares of company stock valued at $10,570,584 in the last three months. 1.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TCBI. Wall Street Zen lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Fundamental Research set a $110.00 price target on Texas Capital Bancshares in a research report on Wednesday, July 1st. TD Cowen dropped their price objective on Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating for the company in a research note on Monday, July 27th. Stephens cut their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Finally, Citigroup increased their target price on Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.