Pinebridge Investments L.P. Reduces Position in Texas Capital Bancshares, Inc. (TCBI)

Pinebridge Investments L.P. cut its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 8.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,452 shares of the bank’s stock after selling 3,342 shares during the period. Pinebridge Investments L.P. owned about 0.07% of Texas Capital Bancshares worth $3,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of TCBI. Aperio Group LLC lifted its position in Texas Capital Bancshares by 5.6% during the second quarter. Aperio Group LLC now owns 11,662 shares of the bank’s stock valued at $903,000 after purchasing an additional 617 shares during the period. US Bancorp DE raised its position in shares of Texas Capital Bancshares by 5.5% in the second quarter. US Bancorp DE now owns 4,032 shares of the bank’s stock worth $312,000 after acquiring an additional 211 shares during the period. NGAM Advisors L.P. raised its position in shares of Texas Capital Bancshares by 46.9% in the second quarter. NGAM Advisors L.P. now owns 58,304 shares of the bank’s stock worth $4,513,000 after acquiring an additional 18,625 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Texas Capital Bancshares by 2.1% in the second quarter. Great West Life Assurance Co. Can now owns 29,749 shares of the bank’s stock worth $2,301,000 after acquiring an additional 618 shares during the period. Finally, World Asset Management Inc raised its position in shares of Texas Capital Bancshares by 2.1% in the second quarter. World Asset Management Inc now owns 3,134 shares of the bank’s stock worth $243,000 after acquiring an additional 64 shares during the period.

In related news, COO Peter B. Bartholow sold 3,500 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $87.52, for a total transaction of $306,320.00. Following the completion of the sale, the chief operating officer now owns 34,171 shares of the company’s stock, valued at approximately $2,990,645.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

A number of research analysts have weighed in on TCBI shares. SunTrust Banks reiterated a “buy” rating and issued a $90.00 price objective on shares of Texas Capital Bancshares in a research report on Wednesday, October 4th. Royal Bank of Canada reiterated a “buy” rating on shares of Texas Capital Bancshares in a research report on Friday, October 20th. Bank of America reiterated a “buy” rating and issued a $100.00 price objective (up previously from $97.00) on shares of Texas Capital Bancshares in a research report on Thursday, October 19th. Zacks Investment Research upgraded 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. Finally, ValuEngine downgraded shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two 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 company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $91.87.

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) opened at $88.60 on Friday. The company has a market cap of $4,444.06, a PE ratio of 23.26, a PEG ratio of 1.85 and a beta of 1.66. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.22 and a current ratio of 1.27. Texas Capital Bancshares, Inc. has a one year low of $69.65 and a one year high of $95.20.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, October 18th. The bank reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $214.08 million. Texas Capital Bancshares had a net margin of 22.50% and a return on equity of 10.40%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.87 earnings per share. research analysts forecast that Texas Capital Bancshares, Inc. will post 4.03 EPS for the current fiscal year.

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Texas Capital Bancshares 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.

Institutional Ownership by Quarter for Texas Capital Bancshares (NASDAQ:TCBI)

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