Texas Capital Bancshares (NASDAQ:TCBI) Reaches New 52-Week High – Here’s What Happened

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) hit a new 52-week high on Tuesday . The stock traded as high as $89.45 and last traded at $89.11, with a volume of 10586 shares traded. The stock had previously closed at $87.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Citigroup reaffirmed a “sell” rating and set a $60.00 target price on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Stephens upped their target price on Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price on the stock in a research note on Tuesday, September 17th. Finally, Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their target price for the company from $77.00 to $82.00 in a research note on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus target price of $74.00.

Texas Capital Bancshares Price Performance

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.11 billion, a P/E ratio of 488.67, a PEG ratio of 0.80 and a beta of 1.12. The firm has a 50-day simple moving average of $74.08 and a 200-day simple moving average of $65.92.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.65. The business had revenue of $304.91 million for the quarter, compared to analysts’ expectations of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. As a group, analysts forecast that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current year.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was purchased at an average price of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now directly owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC raised its stake in Texas Capital Bancshares by 2.6% in the 3rd quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank’s stock worth $386,000 after acquiring an additional 139 shares during the last quarter. Blue Trust Inc. raised its stake in Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after acquiring an additional 169 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Texas Capital Bancshares by 3.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank’s stock worth $383,000 after acquiring an additional 180 shares during the last quarter. Tectonic Advisors LLC raised its stake in shares of Texas Capital Bancshares by 1.1% during the 3rd quarter. Tectonic Advisors LLC now owns 22,818 shares of the bank’s stock valued at $1,631,000 after buying an additional 244 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its stake in shares of Texas Capital Bancshares by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank’s stock valued at $828,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.