California Public Employees Retirement System Grows Stock Holdings in Texas Capital Bancshares, Inc. $TCBI

California Public Employees Retirement System boosted its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 19.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 100,442 shares of the bank’s stock after purchasing an additional 16,047 shares during the period. California Public Employees Retirement System’s holdings in Texas Capital Bancshares were worth $9,530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Texas Capital Bancshares in the 4th quarter valued at about $51,728,000. AQR Capital Management LLC grew its position in Texas Capital Bancshares by 25.1% during the third quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock worth $162,229,000 after buying an additional 384,748 shares during the period. Balyasny Asset Management L.P. grew its position in Texas Capital Bancshares by 2,707.2% during the third quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock worth $29,496,000 after buying an additional 336,506 shares during the period. Alyeska Investment Group L.P. purchased a new position in Texas Capital Bancshares in the fourth quarter valued at about $23,174,000. Finally, UBS Group AG increased its holdings in Texas Capital Bancshares by 56.8% in the third quarter. UBS Group AG now owns 403,692 shares of the bank’s stock valued at $34,124,000 after buying an additional 146,181 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Anna M. Alvarado sold 3,500 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total value of $353,325.00. Following the completion of the transaction, the insider directly owned 23,810 shares of the company’s stock, valued at $2,403,619.50. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Rob C. Holmes sold 49,500 shares of the company’s stock in a transaction on 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 sale, the chief executive officer owned 167,635 shares in the company, valued at $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 102,100 shares of company stock worth $10,366,023. 1.91% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stephens reduced their price target on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler upped their price target on Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Wall Street Zen downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Citigroup lifted their price objective on Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Zacks Research downgraded Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $106.17.

Texas Capital Bancshares Stock Performance

Shares of TCBI opened at $99.25 on Friday. Texas Capital Bancshares, Inc. has a 12-month low of $75.41 and a 12-month high of $108.92. The stock has a market cap of $4.33 billion, a P/E ratio of 12.91, a PEG ratio of 1.44 and a beta of 0.67. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $101.32 and a two-hundred day moving average of $99.51.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, beating the consensus estimate of $1.87 by $0.01. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The business had revenue of $335.50 million for the quarter, compared to analyst estimates of $333.37 million. During the same period in the prior year, the business earned $1.63 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts predict that Texas Capital Bancshares, Inc. will post 7.41 EPS for the current fiscal year.

Texas Capital Bancshares Announces Dividend

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

About Texas Capital Bancshares

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.