Oliver Luxxe Assets LLC Trims Position in Texas Capital Bancshares, Inc. $TCBI

Oliver Luxxe Assets LLC trimmed its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 46.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,355 shares of the bank’s stock after selling 13,446 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Texas Capital Bancshares were worth $1,586,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hillsdale Investment Management Inc. increased its holdings in Texas Capital Bancshares by 57,777.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 52,090 shares of the bank’s stock worth $4,716,000 after acquiring an additional 52,000 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Texas Capital Bancshares by 2.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 847,583 shares of the bank’s stock valued at $76,740,000 after purchasing an additional 18,258 shares during the period. William Blair Investment Management LLC grew its position in shares of Texas Capital Bancshares by 17.2% during the 4th quarter. William Blair Investment Management LLC now owns 468,000 shares of the bank’s stock valued at $42,373,000 after purchasing an additional 68,539 shares in the last quarter. Hodges Capital Management Inc. grew its position in shares of Texas Capital Bancshares by 14.0% during the 1st quarter. Hodges Capital Management Inc. now owns 138,660 shares of the bank’s stock valued at $13,156,000 after purchasing an additional 17,033 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Texas Capital Bancshares by 69.0% in the first quarter. Principal Financial Group Inc. now owns 282,682 shares of the bank’s stock worth $26,821,000 after purchasing an additional 115,455 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Anna M. Alvarado sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total value of $353,325.00. Following the completion of the sale, the insider owned 23,810 shares in the company, valued at $2,403,619.50. The trade was a 12.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ellen Detrich sold 2,045 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $100.03, for a total value of $204,561.35. Following the completion of the sale, the insider directly owned 7,529 shares of the company’s stock, valued at approximately $753,125.87. This represents a 21.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 104,145 shares of company stock worth $10,570,584. 1.91% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on 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. Barclays upgraded Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 target price for the company in a research report on Monday, August 3rd. Fundamental Research set a $110.00 price target on Texas Capital Bancshares in a report on Wednesday, July 1st. Wall Street Zen downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Stephens cut their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Four equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $105.83.

Texas Capital Bancshares Stock Performance

Texas Capital Bancshares stock opened at $99.33 on Monday. Texas Capital Bancshares, Inc. has a fifty-two week low of $75.41 and a fifty-two week high of $108.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $4.32 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 1.21 and a beta of 0.68. The firm’s fifty day moving average price is $101.45 and its 200-day moving average price is $99.74.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.01. The company had revenue of $335.50 million during the quarter, compared to analyst estimates of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. On average, equities research analysts expect that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Texas Capital Bancshares’s dividend payout ratio is 10.40%.

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.