Texas Capital Bancshares (NASDAQ:TCBI) Sets New 52-Week Low at $42.79

Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating)’s stock price reached a new 52-week low on Friday . The company traded as low as $42.79 and last traded at $42.79, with a volume of 54370 shares traded. The stock had previously closed at $43.75.

Analyst Ratings Changes

Several equities research analysts recently commented on TCBI shares. StockNews.com lowered shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, March 22nd. Truist Financial increased their price objective on shares of Texas Capital Bancshares from $63.00 to $64.00 in a research report on Monday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of Texas Capital Bancshares from $55.00 to $50.00 in a research report on Thursday, April 6th. Raymond James decreased their price target on shares of Texas Capital Bancshares from $73.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Thursday, April 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $59.00 price objective on shares of Texas Capital Bancshares in a research note on Friday, April 21st. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.90.

Texas Capital Bancshares Price Performance

The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average price of $51.16 and a 200 day moving average price of $57.69.

Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last posted its quarterly earnings data on Thursday, April 20th. The bank reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.20). Texas Capital Bancshares had a return on equity of 6.00% and a net margin of 19.64%. The firm had revenue of $422.57 million for the quarter, compared to analysts’ expectations of $267.71 million. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, research analysts expect that Texas Capital Bancshares, Inc. will post 3.91 earnings per share for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 16,000 shares of the business’s stock in a transaction on Monday, April 24th. The stock was purchased at an average price of $51.44 per share, with a total value of $823,040.00. Following the transaction, the director now directly owns 203,000 shares in the company, valued at $10,442,320. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,000 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were acquired at an average price of $21.18 per share, with a total value of $211,800.00. Following the completion of the purchase, the director now directly owns 45,000 shares in the company, valued at approximately $953,100. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Stallings acquired 16,000 shares of the firm’s stock in a transaction on Monday, April 24th. The shares were purchased at an average cost of $51.44 per share, for a total transaction of $823,040.00. Following the completion of the purchase, the director now directly owns 203,000 shares of the company’s stock, valued at approximately $10,442,320. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 54,500 shares of company stock valued at $2,144,840. Insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Texas Capital Bancshares by 7.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,115,316 shares of the bank’s stock worth $183,899,000 after purchasing an additional 221,350 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Texas Capital Bancshares during the third quarter worth $4,120,000. Amalgamated Bank grew its position in Texas Capital Bancshares by 0.7% in the third quarter. Amalgamated Bank now owns 33,098 shares of the bank’s stock valued at $1,954,000 after purchasing an additional 222 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Texas Capital Bancshares by 16.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,176,388 shares of the bank’s stock valued at $69,443,000 after acquiring an additional 163,349 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of Texas Capital Bancshares by 29.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 27,520 shares of the bank’s stock valued at $1,625,000 after acquiring an additional 6,305 shares during the period. 96.91% of the stock is owned by institutional investors.

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.