Principal Financial Group Inc. Raises Holdings in Texas Capital Bancshares, Inc. $TCBI

Principal Financial Group Inc. increased its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 69.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,682 shares of the bank’s stock after purchasing an additional 115,455 shares during the period. Principal Financial Group Inc.’s holdings in Texas Capital Bancshares were worth $26,821,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TCBI. Fifth Third Bancorp grew its holdings in Texas Capital Bancshares by 3,700.0% during the 1st quarter. Fifth Third Bancorp now owns 16,986 shares of the bank’s stock valued at $1,612,000 after buying an additional 16,539 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Texas Capital Bancshares in the first quarter worth $938,000. Hodges Capital Management Inc. lifted its position in shares of Texas Capital Bancshares by 14.0% in the first quarter. Hodges Capital Management Inc. now owns 138,660 shares of the bank’s stock valued at $13,156,000 after acquiring an additional 17,033 shares in the last quarter. HB Wealth Management LLC acquired a new stake in shares of Texas Capital Bancshares during the first quarter valued at $209,000. Finally, Root Financial Partners LLC increased its position in 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. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $103.50 on Tuesday. Texas Capital Bancshares, Inc. has a 1 year low of $75.41 and a 1 year high of $108.92. The firm has a 50 day moving average price of $100.96 and a 200 day moving average price of $99.28. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.51 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The company had revenue of $323.99 million for the quarter, compared to the consensus estimate of $318.10 million. During the same quarter last year, the firm posted $0.92 earnings per share. Texas Capital Bancshares’s revenue was up 15.5% on a year-over-year basis. Sell-side analysts predict that Texas Capital Bancshares, Inc. will post 7.56 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Texas Capital Bancshares’s payout ratio is presently 10.75%.

Insider Activity

In related news, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction on Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the completion of the sale, the chief executive officer owned 167,635 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anna M. Alvarado sold 3,500 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were 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 in the company, valued at $2,403,619.50. This represents a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 102,100 shares of company stock valued at $10,366,023 in the last ninety days. Company insiders own 1.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on TCBI shares. 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. Royal Bank Of Canada boosted their price objective on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Piper Sandler upped their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Finally, Fundamental Research set a $110.00 target price on shares of Texas Capital Bancshares in a research note on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.