Texas Capital Bancshares (NASDAQ:TCBI) Shares Gap Down to $70.68

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) shares gapped down prior to trading on Thursday . The stock had previously closed at $70.68, but opened at $68.76. Texas Capital Bancshares shares last traded at $65.90, with a volume of 169,209 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TCBI shares. Wedbush lowered their price objective on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Hovde Group decreased their price objective on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a report on Friday, April 19th. Stephens decreased their price objective on shares of Texas Capital Bancshares from $78.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Truist Financial boosted their price objective on shares of Texas Capital Bancshares from $61.00 to $62.00 and gave the company a “hold” rating in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.65.

Texas Capital Bancshares Stock Performance

The stock’s 50-day moving average price is $60.41 and its 200 day moving average price is $60.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $3.06 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 1.78 and a beta of 1.15.

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

Insiders Place Their Bets

In other news, Director Robert W. Stallings purchased 3,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were purchased at an average cost of $19.50 per share, with a total value of $58,500.00. Following the completion of the transaction, the director now owns 156,706 shares of the company’s stock, valued at approximately $3,055,767. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Robert W. Stallings acquired 6,000 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were purchased at an average cost of $19.52 per share, for a total transaction of $117,120.00. Following the completion of the acquisition, the director now directly owns 163,706 shares in the company, valued at $3,195,541.12. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert W. Stallings acquired 3,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was bought at an average price of $19.50 per share, for a total transaction of $58,500.00. Following the completion of the acquisition, the director now owns 156,706 shares of the company’s stock, valued at $3,055,767. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 15,004 shares of company stock valued at $292,878. 0.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently modified their holdings of TCBI. CWM LLC grew its stake in shares of Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Texas Capital Bancshares in the first quarter valued at about $50,000. Fidelis Capital Partners LLC acquired a new position in shares of Texas Capital Bancshares in the first quarter valued at about $54,000. Headlands Technologies LLC grew its stake in shares of Texas Capital Bancshares by 41.9% in 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, Keener Financial Planning LLC bought a new stake in Texas Capital Bancshares during the fourth quarter worth about $139,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.