Robert W. Stallings, a director at Texas Capital Bancshares (TCBI +0.59%), a major Texas-based commercial lender, reported the purchase of 40,000 shares of Depositary Shares for Series B Preferred shares through multiple transactions on Feb. 23 and Feb. 24, 2026, as disclosed in a SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares traded | 40,000 |
| Transaction value | ~$888,000 |
| Post-transaction shares (direct) | 289,961 |
| Post-transaction shares (indirect) | 90,039 |
| Post-transaction value (direct ownership) | ~$28.05 million |
Transaction value based on SEC Form 4 weighted average purchase price ($22.20); post-transaction value based on the weighted average closing price between the two days of the transaction.
Key questions
- Were any options or derivatives exercised, or was this a straightforward open-market purchase?
No derivative instruments or option exercises were reported; the transaction consisted entirely of open-market acquisitions of Depositary Shares for Series B Preferred shares. - What is the market context around this transaction?
The purchase was made at a weighted average price of $22.20 per share. The stock has delivered a 29.88% total return over the trailing year.
NASDAQ: TCBI
Key Data Points
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.20B |
| Net income (TTM) | $312.99M |
| 1-year price change | 21.94% |
* 1-year performance is calculated using Feb. 28, 2026 as the reference date.
Company snapshot
Texas Capital Bancshares is a leading regional bank holding company headquartered in Dallas, Texas, with a strong presence across the state. The company offers a comprehensive suite of commercial and consumer banking products, including deposit accounts, commercial and real estate loans, mortgage finance, equipment leasing, and wealth management services. It generates revenue primarily through net interest income on loans and deposits, as well as fee-based services such as investment banking, escrow, and trust operations.
What this transaction means for investors
It’s important to note that Stallings actually didn’t purchase any TCBI shares, nor did he purchase Series B preferred stock. He purchased the company’s Depositary Shares, known as TCBIO. Each TCBIO share equals 1/40 of an ownership interest in one Series B preferred share. TCBIO offers investors to earn dividends from Texas Capital Bancshares, but has no voting power. The common stock, TCBI, pays zero dividends but offers voting power.
In late January 2026, Texas Capital announced it would pay a cash dividend of $14.38 per Series B share, equivalent to $0.359375 per depositary share. The dividend will be paid on March 16 for those who hold shares by the end of the business day on March 2. Those interested in investing in the holding company’s depositary shares can find it listed on the NASDAQ under the ticker TCBIO.
Texas Capital’s common stock has generated a positive return for three consecutive years, and share prices are currently up around 5% in 2026. However, the company’s financials have fluctuated in previous quarters, and in its most recent Q4 of FY 2025, its revenue and net income fell from the previous quarter. There’s also the concern that the company is limited in its operational focus on Texas. That said, TCBIO remains an option for those looking for dividend exposure in the banking sector.
