Texas Capital Bancshares, Inc. $TCBI Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC trimmed its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 8.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,285 shares of the bank’s stock after selling 5,148 shares during the quarter. Peregrine Capital Management LLC’s holdings in Texas Capital Bancshares were worth $5,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Danske Bank A S purchased a new position in shares of Texas Capital Bancshares during the 3rd quarter worth $25,000. Farther Finance Advisors LLC increased its stake 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 acquiring an additional 304 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Texas Capital Bancshares during the third quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Texas Capital Bancshares by 169.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock valued at $35,000 after purchasing an additional 246 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Texas Capital Bancshares in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Trading Up 1.2%

TCBI opened at $104.54 on Thursday. The firm has a market capitalization of $4.57 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.47 and a beta of 0.67. The firm’s 50 day moving average is $100.23 and its 200-day moving average is $98.37. Texas Capital Bancshares, Inc. 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.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.16. The business had revenue of $323.99 million during the quarter, compared to the consensus estimate of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Analysts expect that Texas Capital Bancshares, Inc. will post 7.63 EPS for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.20 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. Texas Capital Bancshares’s payout ratio is currently 10.75%.

Insider Transactions at Texas Capital Bancshares

In other news, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anna M. Alvarado sold 3,500 shares of the stock in a transaction dated 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 $2,403,619.50. This represents a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 102,100 shares of company stock valued at $10,366,023. 1.91% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Wall Street Zen downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Piper Sandler increased their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Citigroup raised shares of Texas Capital Bancshares from a “sell” rating to a “neutral” rating and raised their target price for the company from $96.00 to $105.00 in a research note on Tuesday. Finally, Zacks Research lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Four equities 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.17.

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.