Healthcare of Ontario Pension Plan Trust Fund Takes Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,100 shares of the bank’s stock, valued at approximately $1,222,000.

A number of other hedge funds have also recently bought and sold shares of TCBI. First Hawaiian Bank bought a new stake in shares of Texas Capital Bancshares during the second quarter worth $675,000. AQR Capital Management LLC raised its holdings in Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after purchasing an additional 506,094 shares during the last quarter. Algert Global LLC lifted its position in Texas Capital Bancshares by 367.3% during the 3rd quarter. Algert Global LLC now owns 22,316 shares of the bank’s stock valued at $1,595,000 after purchasing an additional 17,540 shares during the period. TD Asset Management Inc raised its position in shares of Texas Capital Bancshares by 26.6% during the 2nd quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock valued at $2,096,000 after acquiring an additional 7,200 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its stake in shares of Texas Capital Bancshares by 22.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 179,098 shares of the bank’s stock valued at $10,950,000 after purchasing an additional 32,248 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Robert W. Stallings bought 20,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the acquisition, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. DA Davidson increased their price target on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Royal Bank of Canada lifted their price target on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Truist Financial lifted their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their price target for the stock from $51.00 to $77.00 in a report on Monday, September 9th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Texas Capital Bancshares has an average rating of “Hold” and a consensus price target of $74.00.

Texas Capital Bancshares Stock Down 0.9 %

Texas Capital Bancshares stock opened at $88.45 on Monday. The company has a fifty day simple moving average of $79.30 and a 200 day simple moving average of $68.58. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a 1-year low of $53.69 and a 1-year high of $91.80. The company has a market cap of $4.09 billion, a P/E ratio of 491.39, a price-to-earnings-growth ratio of 0.84 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The business had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. Research analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current fiscal year.

Texas Capital Bancshares Company Profile

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.