Texas Capital Bancshares (NASDAQ:TCBI) Trading Up 4.5%

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) shares traded up 4.5% on Friday . The company traded as high as $68.47 and last traded at $67.84. 67,499 shares were traded during trading, a decline of 84% from the average session volume of 415,573 shares. The stock had previously closed at $64.94.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TCBI shares. JPMorgan Chase & Co. boosted their price objective on shares of Texas Capital Bancshares from $63.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group dropped their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Wedbush lifted their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Truist Financial upped their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Finally, Citigroup restated a “sell” rating and set a $60.00 price target on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average target price of $65.19.

Texas Capital Bancshares Price Performance

The firm has a market capitalization of $3.11 billion, a P/E ratio of 20.65, a P/E/G ratio of 3.04 and a beta of 1.13. The stock’s fifty day simple moving average is $63.62 and its 200 day simple moving average is $60.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The firm had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. During the same quarter last year, the firm earned $1.33 EPS. On average, equities research analysts predict that Texas Capital Bancshares, Inc. will post 3.31 EPS for the current year.

Insider Transactions at Texas Capital Bancshares

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

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds have recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in Texas Capital Bancshares in the 2nd quarter worth approximately $26,000. CWM LLC raised its holdings in shares of Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after purchasing an additional 546 shares during the last quarter. Mather Group LLC. acquired a new position in Texas Capital Bancshares during the first quarter valued at $50,000. Fidelis Capital Partners LLC purchased a new stake in Texas Capital Bancshares in the first quarter valued at $54,000. Finally, TFO Wealth Partners LLC boosted its holdings in Texas Capital Bancshares by 123,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock valued at $160,000 after purchasing an additional 2,475 shares during the last quarter. 96.88% of the stock is 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.