Texas Capital Bancshares (NASDAQ:TCBI) Reaches New 1-Year Low at $48.64

Texas Capital Bancshares, Inc. (NASDAQ:TCBIGet Rating)’s stock price hit a new 52-week low on Monday . The stock traded as low as $48.64 and last traded at $49.89, with a volume of 420492 shares traded. The stock had previously closed at $61.13.

Wall Street Analyst Weigh In

TCBI has been the topic of a number of research reports. StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Monday. Truist Financial increased their price objective on shares of Texas Capital Bancshares from $68.00 to $80.00 and gave the company a “buy” rating in a report on Friday, January 20th. JPMorgan Chase & Co. lifted their target price on shares of Texas Capital Bancshares from $50.00 to $55.00 and gave the stock an “underweight” rating in a report on Monday, January 23rd. DA Davidson reissued a “neutral” rating on shares of Texas Capital Bancshares in a research note on Wednesday, December 21st. Finally, TheStreet raised Texas Capital Bancshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 18th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.89.

Texas Capital Bancshares Trading Up 7.9 %

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $2.68 billion, a P/E ratio of 8.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.31. The company has a fifty day simple moving average of $64.14 and a two-hundred day simple moving average of $61.11.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 3,000 shares of the stock in a transaction that occurred on Thursday, February 16th. The stock was acquired at an average cost of $21.94 per share, with a total value of $65,820.00. Following the purchase, the director now owns 30,000 shares in the company, valued at $658,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert W. Stallings acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The shares were acquired at an average cost of $21.94 per share, with a total value of $65,820.00. Following the transaction, the director now owns 30,000 shares of the company’s stock, valued at approximately $658,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings bought 6,000 shares of the stock in a transaction on Tuesday, January 24th. The shares were purchased at an average price of $22.14 per share, with a total value of $132,840.00. Following the acquisition, the director now owns 26,000 shares in the company, valued at approximately $575,640. The disclosure for this purchase can be found here. Insiders have acquired 19,888 shares of company stock worth $430,333 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of large investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Texas Capital Bancshares in the first quarter worth $261,000. HighTower Advisors LLC lifted its position in Texas Capital Bancshares by 3.7% during the 1st quarter. HighTower Advisors LLC now owns 9,383 shares of the bank’s stock worth $537,000 after buying an additional 337 shares in the last quarter. Natixis Advisors L.P. boosted its stake in shares of Texas Capital Bancshares by 3.1% during the 1st quarter. Natixis Advisors L.P. now owns 10,722 shares of the bank’s stock worth $614,000 after buying an additional 326 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Texas Capital Bancshares by 39.3% in the 1st quarter. MetLife Investment Management LLC now owns 58,686 shares of the bank’s stock valued at $3,363,000 after acquiring an additional 16,567 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Texas Capital Bancshares by 0.8% in the first quarter. Rhumbline Advisers now owns 163,297 shares of the bank’s stock valued at $9,359,000 after acquiring an additional 1,327 shares during the last quarter. Institutional investors and hedge funds own 96.91% of the company’s stock.

About Texas Capital Bancshares

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Texas Capital Bancshares, Inc is the holding company of Texas Capital Bank, which engages in the provision of financial services and customized solutions to businesses, entrepreneurs, and individual customers. The company was founded by George F. Jones, Jr. and Joseph M. Grant in November 1996 and is headquartered in Dallas, TX.

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