Geode Capital Management LLC Buys 33,709 Shares of Texas Capital Bancshares, Inc. $TCBI

Geode Capital Management LLC lifted its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 2.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,197,494 shares of the bank’s stock after purchasing an additional 33,709 shares during the quarter. Geode Capital Management LLC’s holdings in Texas Capital Bancshares were worth $108,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TCBI. Danske Bank A S bought a new stake in Texas Capital Bancshares during the third quarter worth $25,000. Farther Finance Advisors LLC lifted 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 purchasing an additional 304 shares during the last quarter. Advisory Services Network LLC bought a new stake in Texas Capital Bancshares during the third quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Texas Capital Bancshares by 169.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock worth $35,000 after purchasing an additional 246 shares during the last quarter. Finally, Torren Management LLC bought a new stake in Texas Capital Bancshares during the fourth quarter worth $40,000. 96.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TCBI has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Texas Capital Bancshares from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. Citigroup upped their price target on shares of Texas Capital Bancshares from $88.00 to $96.00 and gave the stock a “sell” rating in a report on Tuesday, April 28th. Zacks Research downgraded shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Royal Bank Of Canada upped their price target on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Finally, Wall Street Zen upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $104.09.

Texas Capital Bancshares Stock Performance

Shares of TCBI opened at $101.69 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $4.44 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.45 and a beta of 0.67. The firm’s fifty day simple moving average is $99.36 and its two-hundred day simple moving average is $96.93. Texas Capital Bancshares, Inc. has a 12 month low of $73.27 and a 12 month high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. The business had revenue of $323.99 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $0.92 earnings per share. As a group, analysts predict that Texas Capital Bancshares, Inc. will post 7.63 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. Texas Capital Bancshares’s dividend payout ratio is 10.75%.

Insider Buying and Selling

In other news, Director Paola M. Arbour purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were acquired at an average price of $91.50 per share, with a total value of $91,500.00. Following the completion of the transaction, the director owned 6,671 shares of the company’s stock, valued at $610,396.50. The trade was a 17.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.91% of the company’s stock.

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.