Texas Capital Bancshares (NASDAQ:TCBI) Reaches New 12-Month High at $66.34

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $66.34 and last traded at $66.11, with a volume of 39021 shares traded. The stock had previously closed at $64.31.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TCBI shares. Jefferies Financial Group reduced their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Wedbush cut their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Stephens cut their price objective on Texas Capital Bancshares from $78.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Hovde Group cut their price objective on Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a research report on Friday, April 19th. Finally, Raymond James lowered Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, April 4th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.65.

Texas Capital Bancshares Stock Performance

The stock has a market capitalization of $3.11 billion, a PE ratio of 19.49, a PEG ratio of 1.62 and a beta of 1.15. The business has a 50 day moving average price of $59.89 and a 200 day moving average price of $60.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, April 18th. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. The firm had revenue of $256.33 million for the quarter, compared to analysts’ expectations of $253.27 million. As a group, equities research analysts expect that Texas Capital Bancshares, Inc. will post 3.53 earnings per share for the current year.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 3,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were purchased at an average cost of $19.36 per share, with a total value of $58,080.00. Following the completion of the acquisition, the director now directly owns 169,706 shares in the company, valued at approximately $3,285,508.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 6,000 shares of the stock in a transaction dated Monday, May 20th. The shares were purchased at an average cost of $19.52 per share, with a total value of $117,120.00. Following the completion of the acquisition, the director now directly owns 163,706 shares in the company, valued at approximately $3,195,541.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert W. Stallings purchased 3,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $19.36 per share, for a total transaction of $58,080.00. Following the completion of the acquisition, the director now owns 169,706 shares of the company’s stock, valued at $3,285,508.16. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 15,004 shares of company stock valued at $292,878. Insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. CWM LLC lifted its holdings in Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares during the period. Mather Group LLC. bought a new position in Texas Capital Bancshares in the first quarter valued at about $50,000. Fidelis Capital Partners LLC bought a new position in Texas Capital Bancshares in the first quarter valued at about $54,000. Headlands Technologies LLC lifted its holdings in Texas Capital Bancshares by 41.9% in the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after acquiring an additional 476 shares during the period. Finally, Keener Financial Planning LLC bought a new position in Texas Capital Bancshares in the fourth quarter valued at about $139,000. Institutional investors 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.