Fifth Third Bancorp Increases Holdings in Texas Capital Bancshares, Inc. $TCBI

Fifth Third Bancorp grew its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3,700.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,986 shares of the bank’s stock after acquiring an additional 16,539 shares during the quarter. Fifth Third Bancorp’s holdings in Texas Capital Bancshares were worth $1,612,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Royal Bank Of Canada increased their price target on Texas Capital Bancshares from $110.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. JPMorgan Chase & Co. upped their price objective on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Finally, Zacks Research downgraded Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $106.00.

Insider Activity at Texas Capital Bancshares

In other news, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction dated 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 sale, the chief executive officer directly owned 167,635 shares of the company’s stock, valued at approximately $16,968,014.70. The trade was a 22.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anna M. Alvarado sold 3,500 shares of the stock in a transaction on Tuesday, June 9th. The shares were 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. This trade represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 102,100 shares of company stock worth $10,366,023. Company insiders own 1.91% of the company’s stock.

Key Stories Impacting Texas Capital Bancshares

Here are the key news stories impacting Texas Capital Bancshares this week:

• Positive Sentiment: Q2 earnings and revenue both topped expectations. Texas Capital reported earnings of $1.88 per share versus estimates around $1.85-$1.87, while revenue of $335.5 million also came in above forecasts. Article title: Texas Capital (TCBI) Tops Q2 Earnings and Revenue Estimates
• Positive Sentiment: Core banking trends improved. The company said higher net interest income, fee income, and balance-sheet growth helped offset expense pressure, and net income available to common stockholders rose 10% year over year to $80.6 million. Article title: TCBI Q2 Earnings Beat on NII & Fee Income Growth, Expenses Up Y/Y
• Neutral Sentiment: The bank declared a quarterly dividend. Texas Capital announced a $0.20 per-share dividend, implying a modest annualized yield of about 0.8%. This supports shareholder returns, but the payout is not large enough by itself to materially change the stock’s near-term direction. Article title: Texas Capital Bancshares stock page
• Negative Sentiment: Expenses and credit costs increased. While revenue growth was solid, management noted rising operating expenses and higher credit costs, which may be weighing on investor sentiment and limiting enthusiasm for the earnings beat. Article title: TCBI Q2 Earnings Beat on NII & Fee Income Growth, Expenses Up Y/Y

Texas Capital Bancshares Trading Down 4.1%

Shares of NASDAQ:TCBI opened at $98.67 on Friday. The stock has a 50 day moving average of $101.26 and a 200 day moving average of $99.51. The company has a market cap of $4.31 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.48 and a beta of 0.67. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Texas Capital Bancshares, Inc. has a 12-month low of $75.41 and a 12-month high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last announced 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 net margin of 17.90% and a return on equity of 10.88%. The firm had revenue of $335.50 million during the quarter, compared to analysts’ expectations of $333.37 million. During the same period in the prior year, the company posted $1.63 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts expect that Texas Capital Bancshares, Inc. will post 7.56 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

The business 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 (DPR) is presently 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.