Insider Buying: Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Buys 14,000 Shares of Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W. Stallings acquired 14,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average price of $19.93 per share, for a total transaction of $279,020.00. Following the completion of the purchase, the director now directly owns 55,294 shares in the company, valued at approximately $1,102,009.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Texas Capital Bancshares Trading Down 4.8 %

Shares of TCBI opened at $60.40 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99. Texas Capital Bancshares, Inc. has a 1-year low of $52.89 and a 1-year high of $72.07. The company has a market capitalization of $2.82 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.86 and a beta of 1.15. The firm’s 50 day simple moving average is $61.49 and its 200 day simple moving average is $60.37.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same quarter last year, the business posted $1.33 EPS. Sell-side analysts forecast that Texas Capital Bancshares, Inc. will post 3.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TCBI shares. Royal Bank of Canada dropped their price target 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 Tuesday, April 9th. Stephens increased their target price on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Jefferies Financial Group reduced their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Wedbush increased their price objective on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Truist Financial raised their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $65.19.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of Texas Capital Bancshares during the 2nd quarter valued at about $26,000. CWM LLC lifted its holdings in shares of Texas Capital Bancshares by 426.6% in the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after acquiring an additional 546 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Texas Capital Bancshares in the 1st quarter valued at $50,000. Fidelis Capital Partners LLC bought a new position in shares of Texas Capital Bancshares during the 1st quarter valued at $54,000. Finally, Headlands Technologies LLC raised its position in Texas Capital Bancshares by 41.9% in the 4th quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock worth $104,000 after purchasing an additional 476 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

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 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.