Pathstone Holdings LLC Increases Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Pathstone Holdings LLC grew its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 3.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 42,663 shares of the bank’s stock after acquiring an additional 1,365 shares during the period. Pathstone Holdings LLC’s holdings in Texas Capital Bancshares were worth $3,049,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. First Hawaiian Bank purchased a new stake in Texas Capital Bancshares during the second quarter worth about $675,000. AQR Capital Management LLC boosted its position in Texas Capital Bancshares by 87.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares during the period. TD Asset Management Inc increased its position in shares of Texas Capital Bancshares by 26.6% during the second quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock worth $2,096,000 after acquiring an additional 7,200 shares during the period. Hodges Capital Management Inc. raised its stake in shares of Texas Capital Bancshares by 22.0% in the second quarter. Hodges Capital Management Inc. now owns 179,098 shares of the bank’s stock valued at $10,950,000 after acquiring an additional 32,248 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Texas Capital Bancshares by 8.5% in the second quarter. Sei Investments Co. now owns 152,887 shares of the bank’s stock valued at $9,347,000 after purchasing an additional 12,041 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Stock Up 3.1 %

TCBI stock opened at $87.73 on Monday. Texas Capital Bancshares, Inc. has a 12 month low of $53.69 and a 12 month high of $91.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 487.39, a price-to-earnings-growth ratio of 0.81 and a beta of 1.12. The company has a fifty day moving average price of $77.60 and a 200 day moving average price of $67.66.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on TCBI. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target on the stock in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 price target on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Hovde Group increased their price objective on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Finally, StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and a consensus price target of $74.00.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 20,000 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 84,587 shares in the company, valued at $1,800,011.36. The trade was a 30.97 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.99% of the company’s stock.

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.