Texas Capital Stock Price, News & Analysis

Texas Capital Securities, a subsidiary of Texas Capital Bancshares (NASDAQ: TCBI), has launched equity research coverage of 38 companies across energy and energy-adjacent sectors. The coverage spans three core areas: Upstream Energy (23 stocks), Energy Adjacent (8 stocks), and Agribusiness and Biofuels (7 stocks).

The initiative aims to enhance the firm's product offerings and expand its Institutional Services business. The coverage focuses on companies positioned to benefit from AI data center demand, U.S. liquified natural gas infrastructure expansion, and policy-driven growth in biofuels. The Upstream Energy sector includes E&P companies, Mineral and Royalty companies, and Minerals-like MLPs, while Energy Adjacent coverage includes various operators in land management, water handling, and clean energy technology.

Texas Capital Bancshares (NASDAQ: TCBI) has appointed Aimee Williams-Ramey as its new Chief Human Resources Officer (CHRO), effective immediately. Williams-Ramey, who joined the company in May 2024 as Deputy General Counsel and Assistant Corporate Secretary, brings over 25 years of experience in legal, corporate governance, human resources, and other key areas.

In her new role, Williams-Ramey will lead the firm's human capital strategy, including talent acquisition and development, compensation, benefits, and employee engagement. She reports directly to President & CEO Rob C. Holmes and serves on the firm's Operating Committee.

Prior to joining Texas Capital, Williams-Ramey held executive positions at Six Flags Entertainment , where she managed HR for over 25,000 employees, and served in leadership roles at Sabre and FINRA.

Gateway Fiber has secured an additional $75 million in debt financing, bringing its total debt financing to $250 million for the year. The funding, arranged by Texas Capital alongside JPMorgan Chase Bank, Third Coast Bank, and CIBC, will support the company's fiber network expansion through 2025 in Missouri, Minnesota, and Massachusetts. With backing from equity sponsor CBRE Investment Management, Gateway Fiber aims to strengthen its position in residential and commercial fiber internet markets while maintaining service quality.

Texas Capital Bancshares, the parent company of Texas Capital Bank, has announced a cash dividend of $14.375 per share for its 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. This is equivalent to $0.359375 per depositary share, each representing a 1/40th interest in a share of the Series B Preferred Stock. The depositary shares are traded on NASDAQ under the symbol TCBIO. The dividend will be payable on December 16, 2024, to holders of record at the close of business on December 2, 2024.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) announced its Q3 2024 results, reporting a net loss of $65.6 million, or $1.41 per diluted share. This loss was primarily due to a $179.6 million loss on sale of available-for-sale debt securities. The quarter included strategic actions such as acquiring a $332 million commercial loan portfolio and repositioning the balance sheet with proceeds from a $1.2 billion sale of lower-yielding securities.

Despite the loss, the company achieved record levels of income in fee areas of focus. Book Value and Tangible Book Value per share both increased 14% year-over-year, reaching record levels. Capital ratios remained strong, with CET1 at 11.2% and Total Capital at 15.2%. Net interest income increased to $240.1 million, up from $216.6 million in Q2 2024, with net interest margin improving to 3.16%.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, has announced its plans to release financial results for the third quarter of 2024 before market opening on Thursday, October 17, 2024. The company will host a conference call and webcast to discuss the Q3 2024 operating results on the same day at 9:00 a.m. EDT.

Participants can pre-register for the call or join through an operator using the provided phone number and access code. A live webcast will be available, and presentation slides can be accessed on the company's investor website. An audio replay will be made available one hour after the call concludes.

Texas Capital Bank Private Wealth Advisors and Texas Capital Funds Trust have launched the Texas Capital Government Money Market ETF (NYSE: MMKT), a first-of-its-kind ETF holding highly liquid, short-term U.S. government debt instruments and cash equivalents. This innovative fund combines the intraday liquidity and flexibility of an ETF with the risk and return characteristics of a money market fund, following Rule 2a-7 of the Investment Company Act of 1940.

The MMKT ETF aims to provide high current interest income while maintaining liquidity and stability of principal. It joins Texas Capital's suite of funds, including the Texas Capital Texas Equity Index ETF (NYSE Arca: TXS). The fund is managed by J. Steven Orr, chief investment officer of Texas Capital Bank Private Wealth Advisors, with over 30 years of portfolio management experience.

Texas Capital Bancshares, Inc. (TCBI) has reported significant progress in its three-year enterprise-wide transformation. The company announced several strategic actions, including:

• Acquisition of a $400 million healthcare portfolio
• Balance sheet repositioning with $1.24 billion securities sale and $1.06 billion purchase
• Structural operating model enhancements reducing 2025 non-interest expense by $30 million
• Expansion of products and capabilities, including Energy Equity Research, Direct Lending, Public Finance, and SBA Lending

The company has achieved peer-leading balance sheet strength, launched Texas Capital Securities, and developed a best-in-class treasury solutions platform. These actions are expected to improve financial performance and drive long-term value creation.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has announced the launch of its Texas Capital Direct Lending (TCDL) platform, aimed at providing non-bank private capital to the middle market. The platform will focus on senior secured floating rate term loans for Texas-based middle market companies and private equity sponsors. Tim Laczkowski has been appointed as Managing Director to lead this new initiative.

TCDL will target companies with $5-50 million in EBITDA, primarily focusing on those between $10-30 million. This move expands Texas Capital's suite of financial and advisory solutions, positioning it as the 'first call' for middle market companies in Texas and beyond. The platform will leverage Texas Capital's industry expertise, product breadth, and existing banking capabilities to offer a comprehensive financing solution.