Canada Pension Plan Investment Board Invests $1.27 Million in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Canada Pension Plan Investment Board acquired 12,300 shares of Texas Capital Bancshares during the second quarter, worth approximately $1.27 million. Institutional investors collectively own 96.88% of the company.
• Texas Capital Bancshares reported quarterly EPS of $1.88, slightly exceeding estimates, while revenue rose 9.1% year over year to $335.5 million. The bank also declared a quarterly dividend of $0.20 per share, representing a 0.8% annualized yield.
• The stock recently traded at $97.18, down 1.5%, and analysts maintain a consensus “Hold” rating with an average price target of $105.83. Recent insider activity was bearish, with insiders selling 104,145 shares worth about $10.6 million over the last quarter.

Canada Pension Plan Investment Board acquired a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,300 shares of the bank's stock, valued at approximately $1,270,000.

Several other hedge funds and other institutional investors have also modified their holdings of TCBI. Danske Bank A S bought a new position in Texas Capital Bancshares during the third quarter worth $25,000. Farther Finance Advisors LLC boosted its holdings in Texas Capital Bancshares by 1,381.8% in the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank's stock valued at $30,000 after purchasing an additional 304 shares during the period. Root Financial Partners LLC boosted its holdings 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 purchasing an additional 150 shares during the period. Advisory Services Network LLC acquired a new stake in Texas Capital Bancshares in the 3rd quarter worth $32,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Texas Capital Bancshares in the 4th quarter worth $36,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Trading Down 1.5%

Shares of Texas Capital Bancshares stock opened at $97.18 on Tuesday. The firm has a market capitalization of $4.22 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.20 and a beta of 0.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00. The company's fifty day moving average price is $101.12 and its two-hundred day moving average price is $99.47. Texas Capital Bancshares, Inc. has a 52-week low of $75.41 and a 52-week high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.87 by $0.01. The company had revenue of $335.50 million during the quarter, compared to analysts' expectations of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The business's revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS. On average, analysts expect that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. Texas Capital Bancshares's payout ratio is presently 10.40%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Stephens dropped their price objective on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Barclays upgraded shares of Texas Capital Bancshares from an "underweight" rating to an "equal weight" rating and set a $100.00 target price for the company in a research note on Monday, August 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Citigroup boosted their price target on Texas Capital Bancshares from $105.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Finally, TD Cowen cut their price target on Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating for the company in a report on Monday, July 27th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $105.83.

Insider Buying and Selling

In related news, CEO Rob C. Holmes sold 49,500 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the completion of the transaction, the chief executive officer owned 167,635 shares of the company's stock, valued at $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anna M. Alvarado sold 3,500 shares of the firm's stock in a transaction dated 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 approximately $2,403,619.50. This represents a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 104,145 shares of company stock valued at $10,570,584 over the last quarter. Corporate insiders own 1.91% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source