Texas Capital Bancshares (NASDAQ:TCBI) Sets New 12-Month High at $72.45

Texas Capital Bancshares, Inc. (NASDAQ:TCBI)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $72.45 and last traded at $72.22, with a volume of 51475 shares trading hands. The stock had previously closed at $71.17.

Analyst Ratings Changes

A number of research firms recently commented on TCBI. Truist Financial raised their price target on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $51.00 to $77.00 in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their price objective on Texas Capital Bancshares from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 target price on shares of Texas Capital Bancshares in a report on Monday, September 9th. Finally, Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Tuesday. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $67.30.

Texas Capital Bancshares Stock Performance

The company’s fifty day moving average is $65.19 and its 200 day moving average is $61.40. The company has a market cap of $3.41 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 1.02 and a beta of 1.13. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). The firm had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same quarter in the prior year, the business posted $1.33 EPS. As a group, equities analysts predict that Texas Capital Bancshares, Inc. will post 3.43 earnings per share for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 4,000 shares of the stock in a transaction on Thursday, July 25th. The stock was acquired at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the acquisition, the director now directly owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 14,000 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average cost of $19.93 per share, with a total value of $279,020.00. Following the transaction, the director now directly owns 55,294 shares of the company’s stock, valued at $1,102,009.42. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert W. Stallings purchased 4,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were acquired at an average cost of $20.62 per share, with a total value of $82,480.00. Following the completion of the transaction, the director now owns 12,794 shares in the company, valued at $263,812.28. The disclosure for this purchase can be found here. Insiders have purchased 43,500 shares of company stock worth $876,400 over the last 90 days. 0.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of TCBI. Innealta Capital LLC bought a new stake in shares of Texas Capital Bancshares in the 2nd quarter worth approximately $26,000. CWM LLC grew its stake in shares of Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after acquiring an additional 546 shares during the last quarter. Mather Group LLC. bought a new position in shares of Texas Capital Bancshares during the first quarter valued at $50,000. Fidelis Capital Partners LLC purchased a new position in shares of Texas Capital Bancshares in the 1st quarter worth about $54,000. Finally, TFO Wealth Partners LLC boosted its stake in Texas Capital Bancshares by 123,750.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock worth $160,000 after purchasing an additional 2,475 shares in the last quarter. Hedge funds and other institutional investors own 96.88% 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.