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

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,100 shares of the bank's stock, valued at approximately $1,222,000.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Texas Capital Bancshares by 87.0% during the second 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in Texas Capital Bancshares by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank's stock valued at $40,792,000 after acquiring an additional 10,171 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Texas Capital Bancshares by 43.8% during the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank's stock valued at $34,392,000 after purchasing an additional 171,263 shares during the period. Segall Bryant & Hamill LLC lifted its position in shares of Texas Capital Bancshares by 12.6% during the third quarter. Segall Bryant & Hamill LLC now owns 467,001 shares of the bank's stock worth $33,372,000 after purchasing an additional 52,095 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Texas Capital Bancshares by 11.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank's stock valued at $23,323,000 after purchasing an additional 38,393 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robert W. Stallings purchased 20,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were purchased at an average price of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now directly owns 84,587 shares of the company's stock, valued at $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TCBI shares. DA Davidson raised their target price on Texas Capital Bancshares from $73.00 to $81.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Royal Bank of Canada upped their price target on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a "sector perform" rating in a report on Friday, October 18th. Bank of America raised Texas Capital Bancshares from an "underperform" rating to a "buy" rating and increased their target price for the stock from $51.00 to $77.00 in a report on Monday, September 9th. JPMorgan Chase & Co. upped their price target on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, October 18th. Finally, Hovde Group boosted their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of "Hold" and a consensus price target of $74.00.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI traded up $0.19 during trading on Monday, reaching $88.64. The stock had a trading volume of 272,122 shares, compared to its average volume of 429,950. The stock has a market capitalization of $4.10 billion, a PE ratio of 490.17, a P/E/G ratio of 0.84 and a beta of 1.12. Texas Capital Bancshares, Inc. has a 52 week low of $54.68 and a 52 week high of $91.80. The business's 50-day moving average price is $79.30 and its 200 day moving average price is $68.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.65. The business had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. As a group, equities analysts predict that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Texas Capital Bancshares 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.