Texas Capital Bancshares (NASDAQ:TCBI) Hits New 12-Month High – Here’s Why

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $91.36 and last traded at $91.36, with a volume of 141317 shares changing hands. The stock had previously closed at $87.73.

Wall Street Analyst Weigh In

TCBI has been the topic of several research reports. DA Davidson upped their price target on Texas Capital Bancshares from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target on the stock in a report on Tuesday, September 17th. Royal Bank of Canada upped their price target on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, October 18th. Finally, Barclays lifted their price objective on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.00.

Texas Capital Bancshares Stock Performance

The firm’s fifty day moving average price is $77.60 and its 200 day moving average price is $67.66. 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 capitalization of $4.14 billion, a PE ratio of 487.39, a PEG ratio of 0.83 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 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 net margin of 1.40% and a return on equity of 8.06%. On average, research analysts anticipate that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the acquisition, the director now owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of large investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new stake in Texas Capital Bancshares during the second quarter valued at about $26,000. Blue Trust Inc. grew its holdings in Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after buying an additional 169 shares during the last quarter. Icon Wealth Advisors LLC bought a new position in Texas Capital Bancshares in the 3rd quarter worth approximately $31,000. CWM LLC lifted its holdings in shares of Texas Capital Bancshares by 40.8% during the second quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after buying an additional 275 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Texas Capital Bancshares in the third quarter valued at approximately $71,000. 96.88% of the stock is currently owned by institutional investors.

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.