Texas Capital Bancshares (NASDAQ:TCBI) Sets New 52-Week High – What’s Next?

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) hit a new 52-week high during trading on Wednesday . The stock traded as high as $74.57 and last traded at $74.36, with a volume of 206018 shares traded. The stock had previously closed at $73.18.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Texas Capital Bancshares from $70.00 to $80.00 and gave the company a “hold” rating in a report on Friday, September 20th. DA Davidson raised their price objective on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Jefferies Financial Group cut their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Wedbush upped their price target on Texas Capital Bancshares from $70.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Finally, Stephens lifted their price target on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.13.

Texas Capital Bancshares Price Performance

The firm has a market cap of $3.43 billion, a P/E ratio of 22.52, a PEG ratio of 1.00 and a beta of 1.13. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $66.48 and its 200-day simple moving average is $62.55.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The firm had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. During the same quarter in the prior year, the company posted $1.33 earnings per share. As a group, analysts forecast that Texas Capital Bancshares, Inc. will post 3.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert W. Stallings bought 4,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average price of $20.62 per share, for a total transaction of $82,480.00. Following the purchase, the director now owns 12,794 shares in the company, valued at $263,812.28. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Robert W. Stallings purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was purchased at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the purchase, the director now owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert W. Stallings purchased 10,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were purchased at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the purchase, the director now owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 43,500 shares of company stock worth $876,400. 0.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Hawaiian Bank purchased a new position in shares of Texas Capital Bancshares during the 2nd quarter valued at approximately $675,000. Goldman Sachs Group Inc. lifted its holdings in shares of Texas Capital Bancshares by 42.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after acquiring an additional 161,643 shares during the last quarter. Hodges Capital Management Inc. grew its stake in shares of Texas Capital Bancshares by 24.2% in the first quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock valued at $9,039,000 after buying an additional 28,650 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after purchasing an additional 506,094 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Texas Capital Bancshares by 73.0% during the 1st quarter. BNP Paribas Financial Markets now owns 25,489 shares of the bank’s stock worth $1,569,000 after purchasing an additional 10,752 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

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.