Texas Capital Bancshares, Inc. (TCBI) To Go Ex-Dividend on September 1st

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) declared a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Tuesday, September 1st will be given a dividend of 0.20 per share by the bank on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st.

Texas Capital Bancshares Trading Down 4.1%

Texas Capital Bancshares stock opened at $98.67 on Friday. Texas Capital Bancshares has a 52-week low of $75.41 and a 52-week high of $108.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.48 and a beta of 0.67. The firm has a 50-day moving average price of $101.26 and a two-hundred day moving average price of $99.51.

Texas Capital Bancshares (NASDAQ:TCBI) last released 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 analysts’ expectations of $333.37 million. Texas Capital Bancshares had a return on equity of 10.88% and a net margin of 17.90%.The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. Sell-side analysts expect that Texas Capital Bancshares will post 7.56 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In related news, CEO Rob C. Holmes sold 49,500 shares of the company’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 transaction, the chief executive officer directly owned 167,635 shares of the company’s stock, valued at approximately $16,968,014.70. The trade was 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 stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total transaction of $353,325.00. Following the completion of the sale, the insider directly owned 23,810 shares of the company’s stock, valued at $2,403,619.50. This trade represents a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 102,100 shares of company stock worth $10,366,023. Corporate insiders own 1.91% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Texas Capital Bancshares during the 4th quarter worth about $51,728,000. AQR Capital Management LLC increased its holdings in Texas Capital Bancshares by 25.1% in the third quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock worth $162,229,000 after buying an additional 384,748 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Texas Capital Bancshares by 2,707.2% during the third quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock valued at $29,496,000 after acquiring an additional 336,506 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Texas Capital Bancshares during the fourth quarter valued at approximately $23,174,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Texas Capital Bancshares in the first quarter valued at approximately $18,391,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Company 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.