Texas Capital Bancshares (NASDAQ:TCBI) Shares Gap Down on Disappointing Earnings

Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report)'s stock price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $65.15, but opened at $62.50. Texas Capital Bancshares shares last traded at $65.14, with a volume of 105,542 shares.

The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.07). The business had revenue of $280.48 million for the quarter, compared to analysts' expectations of $284.40 million. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%.

Analyst Upgrades and Downgrades

TCBI has been the subject of several recent analyst reports. Barclays dropped their target price on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Stephens dropped their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday. Piper Sandler lowered their target price on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday. Hovde Group reduced their price objective on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a research note on Monday. Finally, StockNews.com raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $76.64.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 2,006 shares of the company's stock in a transaction dated Monday, January 27th. The shares were purchased at an average cost of $20.99 per share, for a total transaction of $42,105.94. Following the transaction, the director now directly owns 182,899 shares of the company's stock, valued at approximately $3,839,050.01. The trade was a 1.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have bought 29,402 shares of company stock valued at $653,787. Corporate insiders own 1.72% of the company's stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently bought and sold shares of the business. Picton Mahoney Asset Management purchased a new stake in Texas Capital Bancshares in the 4th quarter worth $30,000. Assetmark Inc. purchased a new position in Texas Capital Bancshares in the 4th quarter valued at about $32,000. Venturi Wealth Management LLC purchased a new stake in Texas Capital Bancshares during the 4th quarter worth approximately $37,000. R Squared Ltd acquired a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $41,000. Finally, UMB Bank n.a. lifted its position in shares of Texas Capital Bancshares by 1,089.8% in the first quarter. UMB Bank n.a. now owns 583 shares of the bank's stock valued at $44,000 after acquiring an additional 534 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Price Performance

The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 50.16, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74. The stock has a 50 day moving average price of $73.26 and a 200-day moving average price of $78.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00.

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.