Texas Capital Bancshares (NASDAQ:TCBI) Trading Down 3% – Should You Sell?

Texas Capital Bancshares, Inc. (NASDAQ:TCBI)’s share price traded down 3% during mid-day trading on Friday . The stock traded as low as $77.87 and last traded at $78.14. 155,670 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 422,480 shares. The stock had previously closed at $80.54.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays lifted their target price on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the company an “underweight” rating in a report on Friday. Royal Bank of Canada upped their target price on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Friday. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and raised their target price for the company from $51.00 to $77.00 in a report on Monday, September 9th. Stephens upped 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, Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus price target of $73.19.

Texas Capital Bancshares Stock Down 1.9 %

The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 0.98 and a beta of 1.13. The stock has a 50 day moving average of $69.13 and a 200 day moving average of $63.49.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly 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 net margin of 8.08% and a return on equity of 6.05%. The firm had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same quarter last year, the firm posted $1.33 earnings per share. As a group, analysts expect that Texas Capital Bancshares, Inc. will post 3.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was acquired at an average cost of $20.62 per share, with a total value of $82,480.00. Following the acquisition, the director now owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Robert W. Stallings purchased 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $400,000. This trade represents a 300.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Stallings acquired 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, with a total value of $82,480.00. Following the completion of the purchase, the director now owns 12,794 shares in the company, valued at $263,812.28. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 43,500 shares of company stock valued at $876,400. Company insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Texas Capital Bancshares by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after purchasing an additional 68,211 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Texas Capital Bancshares by 97.9% during the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after buying an additional 547,336 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Texas Capital Bancshares by 87.0% during 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. American Century Companies Inc. lifted its holdings in Texas Capital Bancshares by 43.8% in the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after purchasing an additional 171,263 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Texas Capital Bancshares by 42.2% in the 4th 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 in the last quarter. Institutional investors and hedge funds 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.