Insider Buying: Texas Capital Bancshares Inc (TCBI) CEO Purchases 3,000 Shares of Stock

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Texas Capital Bancshares Inc (NASDAQ:TCBI) CEO C Keith Cargill acquired 3,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $58.83 per share, for a total transaction of $176,490.00. Following the completion of the purchase, the chief executive officer now owns 120,847 shares in the company, valued at approximately $7,109,429.01. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of TCBI traded down $1.96 during mid-day trading on Thursday, hitting $58.71. 426,881 shares of the company’s stock were exchanged, compared to its average volume of 718,885. Texas Capital Bancshares Inc has a 52 week low of $47.86 and a 52 week high of $102.75. The stock has a market capitalization of $3.12 billion, a PE ratio of 10.14, a P/E/G ratio of 0.93 and a beta of 1.83. The company has a current ratio of 1.30, a quick ratio of 1.21 and a debt-to-equity ratio of 1.64.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, April 17th. The bank reported $1.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.26. Texas Capital Bancshares had a net margin of 23.36% and a return on equity of 13.37%. The company had revenue of $265.63 million for the quarter, compared to analysts’ expectations of $253.83 million. During the same period last year, the firm earned $1.38 earnings per share. Equities research analysts predict that Texas Capital Bancshares Inc will post 6.46 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on TCBI shares. Wedbush lowered Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Wednesday, March 27th. TheStreet upgraded shares of Texas Capital Bancshares from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Zacks Investment Research upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 28th. Compass Point downgraded shares of Texas Capital Bancshares from a “buy” rating to a “neutral” rating and set a $58.49 target price for the company. in a research note on Thursday, April 18th. Finally, Stephens reiterated a “hold” rating on shares of Texas Capital Bancshares in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $84.54.

Large investors have recently made changes to their positions in the stock. Toronto Dominion Bank bought a new position in Texas Capital Bancshares in the fourth quarter valued at approximately $74,000. Jane Street Group LLC acquired a new position in shares of Texas Capital Bancshares during the fourth quarter worth $2,656,000. Context BH Capital Management LP acquired a new position in shares of Texas Capital Bancshares during the fourth quarter worth $12,423,000. Basswood Capital Management L.L.C. acquired a new position in shares of Texas Capital Bancshares during the fourth quarter worth $18,753,000. Finally, Deutsche Bank AG lifted its holdings in shares of Texas Capital Bancshares by 0.8% during the fourth quarter. Deutsche Bank AG now owns 354,154 shares of the bank’s stock worth $18,092,000 after purchasing an additional 2,726 shares during the period. 99.19% of the stock is currently owned by institutional investors and hedge funds.

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Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

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