43,065 Shares in Texas Capital Bancshares, Inc. $TCBI Purchased by Madison Asset Management LLC

Madison Asset Management LLC bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the 2nd quarter, HoldingsChannel reports. The firm bought 43,065 shares of the bank’s stock, valued at approximately $4,447,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Texas Capital Bancshares in the 2nd quarter valued at about $578,148,000. Norges Bank bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $51,728,000. Bank of New York Mellon Corp purchased a new position in Texas Capital Bancshares during the second quarter valued at approximately $43,244,000. AQR Capital Management LLC increased its holdings in Texas Capital Bancshares by 25.1% during the third quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock valued at $162,229,000 after buying an additional 384,748 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in Texas Capital Bancshares by 2,707.2% in the third quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock worth $29,496,000 after buying an additional 336,506 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TCBI. Citigroup upped their target price on Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. JPMorgan Chase & Co. upped their price objective on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Piper Sandler raised their price objective on Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Barclays upgraded Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 target price on the stock in a research note on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and an average price target of $105.83.

Texas Capital Bancshares Trading Down 0.2%

NASDAQ:TCBI opened at $98.04 on Friday. Texas Capital Bancshares, Inc. has a 52 week low of $75.41 and a 52 week high of $108.92. The firm has a 50 day moving average of $101.38 and a 200 day moving average of $99.77. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.20 and a beta of 0.68.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating 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 company had revenue of $335.50 million during the quarter, compared to the consensus estimate of $333.37 million. During the same period last year, the firm earned $1.63 earnings per share. Texas Capital Bancshares’s revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current fiscal year.

Texas Capital Bancshares Announces Dividend

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

Insider Transactions at Texas Capital Bancshares

In related news, insider Anna M. Alvarado sold 3,500 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 23,810 shares in the company, valued at $2,403,619.50. The trade was a 12.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ellen Detrich sold 2,045 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the transaction, the insider directly owned 7,529 shares in the company, valued at $753,125.87. This represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 104,145 shares of company stock valued at $10,570,584 in the last quarter. 1.91% of the stock is currently owned by corporate insiders.

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.