Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Purchases $58,080.00 in Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W. Stallings acquired 3,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average cost of $19.36 per share, with a total value of $58,080.00. Following the purchase, the director now owns 169,706 shares of the company’s stock, valued at approximately $3,285,508.16. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Texas Capital Bancshares Price Performance

TCBI opened at $59.46 on Monday. The stock has a fifty day simple moving average of $59.46 and a two-hundred day simple moving average of $59.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17. Texas Capital Bancshares, Inc. has a 12-month low of $46.54 and a 12-month high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. The firm had revenue of $256.33 million during the quarter, compared to the consensus estimate of $253.27 million. Research analysts predict that Texas Capital Bancshares, Inc. will post 3.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. SummerHaven Investment Management LLC increased its holdings in shares of Texas Capital Bancshares by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank’s stock valued at $849,000 after acquiring an additional 175 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Texas Capital Bancshares by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock valued at $3,887,000 after acquiring an additional 208 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Texas Capital Bancshares by 3.3% during the first quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock valued at $665,000 after acquiring an additional 344 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of Texas Capital Bancshares by 41.9% during the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after acquiring an additional 476 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Texas Capital Bancshares by 22.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,922 shares of the bank’s stock valued at $172,000 after acquiring an additional 535 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TCBI has been the subject of a number of recent analyst reports. Mizuho restated a “hold” rating and set a $66.00 target price (down previously from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Jefferies Financial Group decreased their target price on Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating for the company in a report on Monday, April 8th. Royal Bank of Canada decreased their target price on Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. Citigroup decreased their target price on Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods decreased their target price on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $63.58.

About Texas Capital Bancshares

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 solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.