Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Acquires 726 Shares

Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) Director Robert W. Stallings purchased 726 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average cost of $20.99 per share, with a total value of $15,238.74. Following the acquisition, the director now directly owns 183,625 shares in the company, valued at $3,854,288.75. This trade represents a 0.40 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI traded down $0.35 during trading hours on Friday, hitting $78.95. The company had a trading volume of 369,049 shares, compared to its average volume of 460,022. The business has a fifty day simple moving average of $81.05 and a 200-day simple moving average of $74.87. The firm has a market cap of $3.65 billion, a P/E ratio of 61.68, a price-to-earnings-growth ratio of 0.69 and a beta of 1.17. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a fifty-two week low of $54.68 and a fifty-two week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. Equities analysts predict that Texas Capital Bancshares, Inc. will post 5.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TCBI. Stephens lowered their target price on Texas Capital Bancshares from $102.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday. Hovde Group raised their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a "market perform" rating in a research report on Friday, October 18th. Piper Sandler downgraded shares of Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $77.00 to $82.00 in a research report on Friday, October 18th. Truist Financial upped their price objective on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a "hold" rating in a report on Monday, October 21st. Finally, StockNews.com raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Friday. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $79.13.

Institutional Trading of Texas Capital Bancshares

Large investors have recently modified their holdings of the company. Millennium Management LLC grew its holdings in Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank's stock valued at $22,767,000 after buying an additional 221,454 shares during the last quarter. Algert Global LLC bought a new stake in shares of Texas Capital Bancshares during the second quarter valued at approximately $292,000. Point72 Asset Management L.P. acquired a new position in shares of Texas Capital Bancshares in the 2nd quarter valued at $2,704,000. Teachers Retirement System of The State of Kentucky boosted its stake in Texas Capital Bancshares by 9.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 47,381 shares of the bank's stock worth $2,897,000 after acquiring an additional 4,124 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Texas Capital Bancshares by 47.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 12,723 shares of the bank's stock valued at $909,000 after acquiring an additional 4,100 shares in the last quarter. 96.88% of the stock is owned by 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.