Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Acquires $300,000.00 in Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W. Stallings bought 15,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $400,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $59.52 on Friday. The stock’s 50 day moving average is $61.44 and its 200 day moving average is $60.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a market cap of $2.75 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.64 and a beta of 1.15. Texas Capital Bancshares, Inc. has a one year low of $52.89 and a one year high of $72.07.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The company had revenue of $472.49 million during the quarter, compared to analyst estimates of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same period in the prior year, the firm earned $1.33 earnings per share. As a group, research analysts expect that Texas Capital Bancshares, Inc. will post 3.31 EPS for the current year.

Hedge Funds Weigh In On Texas Capital Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Texas Capital Bancshares in the fourth quarter valued at approximately $35,120,000. Louisiana State Employees Retirement System acquired a new position in Texas Capital Bancshares in the fourth quarter valued at approximately $873,000. Rafferty Asset Management LLC lifted its stake in Texas Capital Bancshares by 144.5% in the fourth quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock valued at $7,959,000 after buying an additional 72,782 shares during the period. Trexquant Investment LP acquired a new position in Texas Capital Bancshares in the fourth quarter valued at approximately $3,402,000. Finally, Goldman Sachs Group Inc. lifted its stake in Texas Capital Bancshares by 42.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after buying an additional 161,643 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on TCBI. Truist Financial lifted their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods reduced their price target on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Wedbush boosted their price target on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Stephens boosted their price target on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $63.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $65.19.

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.