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

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TCBI. DA Davidson lifted their price objective on Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $74.00 target price on shares of Texas Capital Bancshares in a research note on Monday, September 9th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Royal Bank of Canada raised their target price 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. Finally, JPMorgan Chase & Co. raised their target price on Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.00.

Texas Capital Bancshares Stock Performance

The company has a market capitalization of $4.12 billion, a PE ratio of 495.06, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12. The business’s fifty day moving average is $75.01 and its two-hundred day moving average is $66.30. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The company had revenue of $304.91 million during the quarter, compared to analyst estimates of $279.64 million. Equities research analysts predict that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Stallings purchased 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average cost of $21.28 per share, with a total value of $425,600.00. Following the acquisition, the director now directly owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC purchased a new stake in Texas Capital Bancshares in the 2nd quarter worth $26,000. Blue Trust Inc. lifted its holdings in shares of 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 acquiring an additional 169 shares during the last quarter. Icon Wealth Advisors LLC bought a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at about $31,000. CWM LLC lifted its stake in Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after purchasing an additional 275 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Texas Capital Bancshares in the third quarter worth about $71,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

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.