Canada Pension Plan Investment Board increased its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 200.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,500 shares of the bank’s stock after purchasing an additional 3,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Texas Capital Bancshares were worth $386,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. NJ State Employees Deferred Compensation Plan bought a new stake in Texas Capital Bancshares in the 3rd quarter valued at $515,000. Fortaleza Asset Management Inc. bought a new stake in shares of Texas Capital Bancshares in the 3rd quarter worth about $233,000. Crossmark Global Holdings Inc. purchased a new position in shares of Texas Capital Bancshares during the 3rd quarter worth about $402,000. Rehmann Capital Advisory Group purchased a new position in shares of Texas Capital Bancshares during the 3rd quarter worth about $201,000. Finally, Nationwide Fund Advisors boosted its stake in shares of Texas Capital Bancshares by 1.0% during the 3rd quarter. Nationwide Fund Advisors now owns 326,071 shares of the bank’s stock worth $27,977,000 after purchasing an additional 3,316 shares during the period.
A number of research firms recently commented on TCBI. BidaskClub cut shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Wedbush cut shares of Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $88.00 to $87.00 in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Tuesday, September 19th. ValuEngine cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Barclays set a $87.00 price objective on shares of Texas Capital Bancshares and gave the company a “hold” rating in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $91.87.
Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) traded up $1.60 during midday trading on Thursday, reaching $89.85. 329,859 shares of the company were exchanged, compared to its average volume of 525,713. Texas Capital Bancshares, Inc. has a 12-month low of $69.65 and a 12-month high of $95.20. The stock has a market capitalization of $4,354.73, a P/E ratio of 22.79, a PEG ratio of 1.81 and a beta of 1.66. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.27 and a quick ratio of 1.22.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Wednesday, October 18th. The bank reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. The firm had revenue of $204.40 million for the quarter, compared to the consensus estimate of $214.08 million. Texas Capital Bancshares had a net margin of 22.50% and a return on equity of 10.40%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 earnings per share. equities analysts predict that Texas Capital Bancshares, Inc. will post 4.03 earnings per share for the current fiscal year.
In other Texas Capital Bancshares news, COO Peter B. Bartholow sold 3,500 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $87.52, for a total transaction of $306,320.00. Following the transaction, the chief operating officer now directly owns 34,171 shares of the company’s stock, valued at $2,990,645.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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