Bessemer Group Inc. Reduces Holdings in Texas Capital Bancshares, Inc. $TCBI

Bessemer Group Inc. reduced its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 7.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,284 shares of the bank’s stock after selling 25,630 shares during the quarter. Bessemer Group Inc.’s holdings in Texas Capital Bancshares were worth $32,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its holdings in shares of Texas Capital Bancshares by 1.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,376,880 shares of the bank’s stock worth $305,743,000 after purchasing an additional 43,003 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Texas Capital Bancshares by 16.4% in the 4th quarter. AQR Capital Management LLC now owns 2,234,678 shares of the bank’s stock valued at $202,328,000 after purchasing an additional 315,484 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Texas Capital Bancshares by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank’s stock valued at $108,436,000 after purchasing an additional 33,709 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of 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. Finally, Goldman Sachs Group Inc. grew its stake in Texas Capital Bancshares by 2.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 596,149 shares of the bank’s stock worth $53,975,000 after buying an additional 12,486 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TCBI shares. JPMorgan Chase & Co. lifted their target price on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Fundamental Research set a $110.00 price target on Texas Capital Bancshares in a research report on Wednesday, July 1st. Wall Street Zen downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Piper Sandler boosted their target price on Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average target price of $106.17.

Insider Buying and Selling

In other news, CEO Rob C. Holmes sold 49,500 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was 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 directly owned 167,635 shares of the company’s stock, valued at $16,968,014.70. This trade represents a 22.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anna M. Alvarado sold 3,500 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 102,100 shares of company stock valued at $10,366,023. Company insiders own 1.91% of the company’s stock.

Texas Capital Bancshares Trading Down 2.5%

Shares of Texas Capital Bancshares stock opened at $105.07 on Friday. 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. The company’s 50-day simple moving average is $100.86 and its 200-day simple moving average is $99.16. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.51 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.16. The firm 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 firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. As a group, equities research analysts anticipate 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. Stockholders of record on Monday, June 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Texas Capital Bancshares’s dividend payout ratio is 10.75%.

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.