Canada Pension Plan Investment Board Has $2.18 Million Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Canada Pension Plan Investment Board lessened its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 38.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,900 shares of the bank's stock after selling 17,100 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.06% of Texas Capital Bancshares worth $2,182,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new stake in shares of Texas Capital Bancshares in the 4th quarter valued at $30,000. Assetmark Inc. acquired a new stake in shares of Texas Capital Bancshares in the fourth quarter worth about $32,000. Venturi Wealth Management LLC bought a new stake in shares of Texas Capital Bancshares during the 4th quarter worth about $37,000. R Squared Ltd acquired a new position in shares of Texas Capital Bancshares during the 4th quarter valued at about $41,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Texas Capital Bancshares in the 4th quarter valued at approximately $115,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Price Performance

NASDAQ TCBI traded down $0.07 during trading on Tuesday, reaching $68.48. 55,399 shares of the company traded hands, compared to its average volume of 445,243. Texas Capital Bancshares, Inc. has a 1-year low of $56.24 and a 1-year high of $91.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. The stock's 50 day moving average price is $71.48 and its two-hundred day moving average price is $77.84. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 53.50, a P/E/G ratio of 0.75 and a beta of 0.74.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.07). The firm had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. As a group, analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 500 shares of Texas Capital Bancshares stock in a transaction on Wednesday, April 23rd. The shares were bought at an average price of $68.20 per share, with a total value of $34,100.00. Following the completion of the purchase, the director now owns 289,961 shares in the company, valued at $19,775,340.20. This trade represents a 0.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders bought 26,726 shares of company stock worth $778,504. Insiders own 1.72% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TCBI. JPMorgan Chase & Co. reduced their price objective on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. DA Davidson lowered their price target on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Hovde Group cut their price objective on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Raymond James lowered their target price on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Finally, Piper Sandler reduced their price objective on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of "Hold" and an average price target of $76.64.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.