Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Purchases $332,880.00 in Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W. Stallings acquired 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average price of $55.48 per share, with a total value of $332,880.00. Following the completion of the purchase, the director now owns 285,000 shares in the company, valued at approximately $15,811,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI traded down $0.24 during mid-day trading on Monday, reaching $54.72. The stock had a trading volume of 476,645 shares, compared to its average volume of 485,554. The business’s 50 day moving average price is $57.58 and its 200 day moving average price is $56.39. Texas Capital Bancshares, Inc. has a 1 year low of $42.79 and a 1 year high of $69.26. The company has a market cap of $2.63 billion, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.17. Texas Capital Bancshares had a return on equity of 7.83% and a net margin of 19.39%. The business had revenue of $472.64 million for the quarter, compared to analysts’ expectations of $267.89 million. During the same period in the prior year, the firm earned $0.74 EPS. Research analysts expect that Texas Capital Bancshares, Inc. will post 4.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors have recently bought and sold shares of TCBI. Parallel Advisors LLC raised its position in shares of Texas Capital Bancshares by 26,750.0% during the 1st quarter. Parallel Advisors LLC now owns 537 shares of the bank’s stock valued at $26,000 after buying an additional 535 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Texas Capital Bancshares during the first quarter valued at approximately $32,000. Lazard Asset Management LLC bought a new stake in shares of Texas Capital Bancshares in the 3rd quarter valued at approximately $32,000. US Bancorp DE boosted its holdings in shares of Texas Capital Bancshares by 64.7% in the 1st quarter. US Bancorp DE now owns 771 shares of the bank’s stock worth $38,000 after purchasing an additional 303 shares during the period. Finally, Atwood & Palmer Inc. bought a new position in shares of Texas Capital Bancshares during the 3rd quarter valued at approximately $47,000. Institutional investors own 96.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TCBI. StockNews.com initiated coverage on shares of Texas Capital Bancshares in a report on Thursday, October 5th. They set a “sell” rating on the stock. Royal Bank of Canada lowered their target price on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Friday, October 20th. Raymond James cut their price target on Texas Capital Bancshares from $72.00 to $69.00 and set a “strong-buy” rating for the company in a research note on Wednesday, November 15th. Truist Financial lowered their price objective on Texas Capital Bancshares from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, October 23rd. Finally, Jefferies Financial Group increased their target price on Texas Capital Bancshares from $60.00 to $64.00 in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.00.

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, and wealth management services.