Texas Capital Bancshares (NASDAQ:TCBI) Director Robert Stallings Acquires 5,000 Shares of Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert Stallings purchased 5,000 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were bought at an average price of $20.68 per share, with a total value of $103,400.00. Following the purchase, the director directly owned 270,913 shares of the company’s stock, valued at approximately $5,602,480.84. The trade was a 1.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $83.88 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 0.66 and a beta of 0.67. The firm’s fifty day moving average price is $85.11 and its 200 day moving average price is $79.97. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, October 22nd. The bank reported $2.18 EPS for the quarter, topping the consensus estimate of $1.77 by $0.41. The company had revenue of $340.35 million during the quarter, compared to analysts’ expectations of $327.13 million. Texas Capital Bancshares had a net margin of 15.14% and a return on equity of 9.51%. The business’s revenue was up 171.6% on a year-over-year basis. During the same quarter last year, the business earned ($1.41) EPS. On average, sell-side analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on TCBI. Piper Sandler lifted their price objective on Texas Capital Bancshares from $84.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Hovde Group raised their price target on Texas Capital Bancshares from $85.00 to $93.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Citigroup lifted their price target on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods increased their price objective on Texas Capital Bancshares from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Cowen assumed coverage on Texas Capital Bancshares in a report on Wednesday, September 24th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $87.60.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TCBI. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Texas Capital Bancshares during the 1st quarter worth $528,000. Texas Capital Bank Wealth Management Services Inc increased its holdings in Texas Capital Bancshares by 2,249.3% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank’s stock valued at $18,630,000 after acquiring an additional 238,785 shares in the last quarter. Intech Investment Management LLC raised its position in Texas Capital Bancshares by 22.1% during the first quarter. Intech Investment Management LLC now owns 29,790 shares of the bank’s stock worth $2,225,000 after acquiring an additional 5,393 shares during the last quarter. Edgestream Partners L.P. raised its position in Texas Capital Bancshares by 28.8% during the first quarter. Edgestream Partners L.P. now owns 131,139 shares of the bank’s stock worth $9,796,000 after acquiring an additional 29,341 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Texas Capital Bancshares by 22.2% in the first quarter. Victory Capital Management Inc. now owns 117,828 shares of the bank’s stock valued at $8,802,000 after purchasing an additional 21,431 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.