Texas Capital Bancshares (NASDAQ:TCBI) Hits New 52-Week High – Here’s What Happened

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $74.57 and last traded at $74.36, with a volume of 206018 shares traded. The stock had previously closed at $73.18.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TCBI. DA Davidson increased their price target on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Hovde Group raised their target price on shares of Texas Capital Bancshares from $66.00 to $73.00 and gave the company a “market perform” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 price target on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Jefferies Financial Group reduced their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Finally, Truist Financial upped their target price on shares of Texas Capital Bancshares from $70.00 to $80.00 and gave the company a “hold” rating in a report on Friday, September 20th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $69.13.

Texas Capital Bancshares Stock Performance

The company has a market capitalization of $3.43 billion, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. The firm has a 50 day moving average price of $66.48 and a two-hundred day moving average price of $62.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly 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). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The firm had revenue of $472.49 million for the quarter, compared to analyst estimates of $268.02 million. During the same period last year, the company earned $1.33 EPS. On average, research analysts expect that Texas Capital Bancshares, Inc. will post 3.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 4,000 shares of Texas Capital Bancshares stock in a transaction dated Thursday, July 25th. The stock was bought at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the purchase, the director now directly owns 12,794 shares in the company, valued at approximately $263,812.28. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robert W. Stallings purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $400,000. This trade represents a 300.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert W. Stallings bought 4,000 shares of Texas Capital Bancshares 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 acquisition, the director now owns 12,794 shares in the company, valued at approximately $263,812.28. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 43,500 shares of company stock worth $876,400. Corporate insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Hawaiian Bank acquired a new stake in Texas Capital Bancshares in the second quarter worth $675,000. Goldman Sachs Group Inc. lifted its position in shares of Texas Capital Bancshares by 42.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after purchasing an additional 161,643 shares in the last quarter. Hodges Capital Management Inc. increased its position in shares of Texas Capital Bancshares by 24.2% during the first quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock valued at $9,039,000 after acquiring an additional 28,650 shares during the last quarter. AQR Capital Management LLC grew its position in 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 valued at $65,219,000 after buying an additional 506,094 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Texas Capital Bancshares by 73.0% in the first quarter. BNP Paribas Financial Markets now owns 25,489 shares of the bank’s stock valued at $1,569,000 after purchasing an additional 10,752 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.