The Manufacturers Life Insurance Company Buys Shares of 40,941 Texas Capital Bancshares, Inc. $TCBI

The Manufacturers Life Insurance Company purchased a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 40,941 shares of the bank’s stock, valued at approximately $4,228,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Evolve Private Wealth LLC boosted its position in Texas Capital Bancshares by 1.7% during the first quarter. Evolve Private Wealth LLC now owns 5,987 shares of the bank’s stock valued at $568,000 after purchasing an additional 98 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Texas Capital Bancshares by 2.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,079 shares of the bank’s stock worth $550,000 after purchasing an additional 135 shares in the last quarter. Root Financial Partners LLC raised its stake in shares of Texas Capital Bancshares by 85.2% during the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Texas Capital Bancshares by 14.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $143,000 after buying an additional 189 shares during the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Texas Capital Bancshares by 5.0% during the 1st quarter. Inspire Investing LLC now owns 5,399 shares of the bank’s stock valued at $512,000 after buying an additional 259 shares during the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TCBI has been the topic of a number of research reports. Fundamental Research set a $110.00 price objective on Texas Capital Bancshares in a report on Wednesday, July 1st. TD Cowen decreased their target price on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating for the company in a research report on Monday, July 27th. Stephens cut their price target on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Finally, Citigroup increased their target price on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus price target of $105.83.

Texas Capital Bancshares Trading Down 1.6%

Shares of TCBI stock opened at $95.67 on Wednesday. The firm has a market capitalization of $4.16 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. Texas Capital Bancshares, Inc. has a 1 year low of $75.41 and a 1 year high of $108.92. The firm’s fifty day simple moving average is $101.01 and its 200 day simple moving average is $99.41. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15.

Texas Capital Bancshares (NASDAQ:TCBI) last issued 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 firm had revenue of $335.50 million during 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 business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. As a group, sell-side analysts predict that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current year.

Texas Capital Bancshares Announces Dividend

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 $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares’s dividend payout ratio (DPR) is presently 10.40%.

Insider Activity at Texas Capital Bancshares

In related news, 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 transaction of $5,010,390.00. Following the transaction, the chief executive officer directly owned 167,635 shares in the company, valued at $16,968,014.70. The trade was a 22.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anna M. Alvarado sold 3,500 shares of the company’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 completion of the transaction, the insider directly owned 23,810 shares of the company’s stock, valued at approximately $2,403,619.50. This trade represents a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 104,145 shares of company stock worth $10,570,584. 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.