Texas Capital Bancshares (NASDAQ:TCBI) Shares Gap Down to $55.47

Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) gapped down prior to trading on Wednesday . The stock had previously closed at $55.47, but opened at $50.94. Texas Capital Bancshares shares last traded at $54.71, with a volume of 109,057 shares.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Truist Financial increased their target price on shares of Texas Capital Bancshares from $68.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, January 20th. StockNews.com cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Monday. UBS Group began coverage on shares of Texas Capital Bancshares in a report on Wednesday. They set a “sell” rating and a $51.00 price objective for the company. TheStreet raised shares of Texas Capital Bancshares from a “c+” rating to a “b” rating in a report on Wednesday, January 18th. Finally, JPMorgan Chase & Co. lifted their price objective 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. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $61.70.

Texas Capital Bancshares Stock Performance

The company has a market cap of $2.80 billion, a PE ratio of 9.27, a PEG ratio of 1.72 and a beta of 1.31. The business’s 50-day moving average is $63.95 and its 200 day moving average is $61.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 1.03.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were bought at an average price of $21.18 per share, for a total transaction of $211,800.00. Following the transaction, the director now directly owns 45,000 shares in the company, valued at $953,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert W. Stallings acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were purchased at an average price of $21.18 per share, for a total transaction of $211,800.00. Following the completion of the transaction, the director now owns 45,000 shares of the company’s stock, valued at $953,100. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Stallings acquired 6,000 shares of the firm’s stock in a transaction on Tuesday, January 24th. The stock was purchased at an average price of $22.14 per share, for a total transaction of $132,840.00. Following the transaction, the director now directly owns 26,000 shares of the company’s stock, valued at approximately $575,640. The disclosure for this purchase can be found here. Insiders have acquired a total of 19,888 shares of company stock worth $430,333 in the last 90 days. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its position in shares of Texas Capital Bancshares by 25.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,049 shares of the bank’s stock valued at $63,000 after acquiring an additional 210 shares during the period. Captrust Financial Advisors increased its position in shares of Texas Capital Bancshares by 12.9% in the fourth quarter. Captrust Financial Advisors now owns 8,873 shares of the bank’s stock valued at $535,000 after acquiring an additional 1,015 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Texas Capital Bancshares by 26.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,633,859 shares of the bank’s stock valued at $219,159,000 after buying an additional 762,038 shares during the period. Maverick Capital Ltd. purchased a new position in shares of Texas Capital Bancshares during the fourth quarter valued at about $210,000. Finally, Morgan Stanley increased its position in shares of Texas Capital Bancshares by 21.6% during the fourth quarter. Morgan Stanley now owns 251,609 shares of the bank’s stock valued at $15,175,000 after buying an additional 44,745 shares during the period. Hedge funds and other institutional investors 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.