Insider Selling: Texas Capital Bancshares (NASDAQ:TCBI) CEO Sells $5,002,308.00 in Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) CEO Rob Holmes sold 49,100 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $101.88, for a total transaction of $5,002,308.00. Following the completion of the sale, the chief executive officer owned 217,135 shares of the company’s stock, valued at $22,121,713.80. The trade was a 18.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Texas Capital Bancshares Trading Down 0.8%

NASDAQ:TCBI opened at $100.19 on Thursday. 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 $4.38 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.43 and a beta of 0.67. The firm has a fifty day simple moving average of $99.80 and a two-hundred day simple moving average of $97.37. Texas Capital Bancshares, Inc. has a 12 month low of $73.61 and a 12 month high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. The business had revenue of $323.99 million during 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% on a year-over-year basis. During the same period last year, the company posted $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 Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TCBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Texas Capital Bancshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank’s stock valued at $2,062,000 after purchasing an additional 1,206 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Texas Capital Bancshares by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock valued at $41,837,000 after purchasing an additional 20,231 shares in the last quarter. United Services Automobile Association bought a new position in shares of Texas Capital Bancshares during the first quarter valued at about $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Texas Capital Bancshares by 29.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank’s stock valued at $8,050,000 after purchasing an additional 24,538 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Texas Capital Bancshares by 34.0% during the second quarter. Invesco Ltd. now owns 149,559 shares of the bank’s stock valued at $11,875,000 after purchasing an additional 37,982 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on TCBI shares. Citigroup raised 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. Piper Sandler lifted their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Zacks Research cut 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 lifted 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 report on Friday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $104.09.

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.