Bank of New York Mellon Corp Trims Stock Position in Texas Capital Bancshares, Inc. $TCBI

Bank of New York Mellon Corp lessened its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 383,558 shares of the bank’s stock after selling 15,596 shares during the period. Bank of New York Mellon Corp’s holdings in Texas Capital Bancshares were worth $36,392,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Evolve Private Wealth LLC grew its holdings in Texas Capital Bancshares by 1.7% in the 1st quarter. Evolve Private Wealth LLC now owns 5,987 shares of the bank’s stock worth $568,000 after acquiring an additional 98 shares during the last quarter. GAMMA Investing LLC increased its holdings in Texas Capital Bancshares by 9.8% in the 4th quarter. GAMMA Investing LLC now owns 1,463 shares of the bank’s stock worth $132,000 after buying an additional 131 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Texas Capital Bancshares by 2.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,079 shares of the bank’s stock worth $550,000 after buying an additional 135 shares during the last quarter. Root Financial Partners LLC grew its stake in shares of Texas Capital Bancshares by 85.2% during the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock valued at $31,000 after purchasing an additional 150 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Texas Capital Bancshares by 22.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the bank’s stock worth $119,000 after acquiring an additional 242 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Stock Up 0.6%

Shares of NASDAQ:TCBI opened at $99.25 on Friday. Texas Capital Bancshares, Inc. has a 52-week low of $75.41 and a 52-week high of $108.92. The stock has a market cap of $4.33 billion, a P/E ratio of 12.91, a PEG ratio of 1.44 and a beta of 0.67. The business has a fifty day moving average of $101.32 and a two-hundred day moving average of $99.51. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 0.15.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.01. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The firm had revenue of $335.50 million during the quarter, compared to the consensus estimate of $333.37 million. During the same period last year, the company earned $1.63 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts expect that Texas Capital Bancshares, Inc. will post 7.41 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

TCBI has been the topic of a number of analyst reports. 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 research note on Wednesday, July 1st. Zacks Research cut shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Piper Sandler lifted their price target on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock 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 report on Monday, July 6th. Finally, Fundamental Research set a $110.00 price target on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Texas Capital Bancshares currently has an average rating of “Hold” and a consensus price target of $106.17.

Insiders Place Their Bets

In other Texas Capital Bancshares news, insider Anna M. Alvarado sold 3,500 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total transaction of $353,325.00. Following the transaction, the insider owned 23,810 shares of the company’s stock, valued at $2,403,619.50. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Rob C. Holmes sold 49,500 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the transaction, the chief executive officer directly owned 167,635 shares in the company, valued at $16,968,014.70. The trade was a 22.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 102,100 shares of company stock valued at $10,366,023. 1.91% of the stock is owned by corporate insiders.

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.