Texas Capital Bancshares (NASDAQ:TCBI) Shares Down 5%

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) dropped 5% on Friday . The company traded as low as $54.37 and last traded at $55.05. Approximately 157,483 shares changed hands during trading, a decline of 71% from the average daily volume of 551,577 shares. The stock had previously closed at $57.92.

Analyst Ratings Changes

TCBI has been the subject of a number of recent analyst reports. UBS Group assumed coverage on Texas Capital Bancshares in a report on Wednesday. They issued a “sell” rating and a $51.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of Texas Capital Bancshares from $50.00 to $55.00 and gave the company an “underweight” rating in a research note on Monday, January 23rd. TheStreet upgraded shares of Texas Capital Bancshares from a “c+” rating to a “b” rating in a research report on Wednesday, January 18th. StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, March 13th. Finally, Truist Financial boosted their price target on Texas Capital Bancshares from $68.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, January 20th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and an average target price of $61.70.

Texas Capital Bancshares Stock Performance

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.61 billion, a PE ratio of 8.63, a PEG ratio of 1.72 and a beta of 1.31. The stock’s 50 day moving average price is $63.80 and its two-hundred day moving average price is $60.97.

Insider Buying and Selling at Texas Capital Bancshares

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

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its holdings in shares of Texas Capital Bancshares by 1,083.3% during the 4th quarter. Quadrant Capital Group LLC now owns 426 shares of the bank’s stock worth $26,000 after acquiring an additional 390 shares during the period. Wipfli Financial Advisors LLC acquired a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at $35,000. Eagle Bay Advisors LLC grew its stake in shares of Texas Capital Bancshares by 65.9% during the 2nd quarter. Eagle Bay Advisors LLC now owns 720 shares of the bank’s stock valued at $38,000 after buying an additional 286 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Texas Capital Bancshares by 25.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,049 shares of the bank’s stock worth $63,000 after buying an additional 210 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Texas Capital Bancshares by 60.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,044 shares of the bank’s stock worth $120,000 after buying an additional 767 shares during the period. Institutional investors and hedge funds own 96.91% of the company’s stock.

Texas Capital Bancshares Company Profile

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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.