Texas Capital Bancshares (NASDAQ:TCBI) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Texas Capital Bancshares, Inc. (NASDAQ:TCBI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $99.12 and traded as high as $107.78. Texas Capital Bancshares shares last traded at $107.74, with a volume of 638,005 shares changing hands.

Analyst Upgrades and Downgrades

TCBI has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Fundamental Research set a $110.00 price target on Texas Capital Bancshares in a research note on Wednesday, July 1st. Royal Bank Of Canada lifted their price target on Texas Capital Bancshares from $110.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Wall Street Zen cut Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average target price of $106.17.

Texas Capital Bancshares Stock Down 2.5%

The firm’s 50-day moving average price is $100.86 and its two-hundred day moving average price is $99.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $4.59 billion, a PE ratio of 14.12, a P/E/G ratio of 1.55 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, April 23rd. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The firm had revenue of $323.99 million for the quarter, compared to the consensus estimate of $318.10 million. During the same period last year, the firm posted $0.92 EPS. The company’s revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts expect that Texas Capital Bancshares, Inc. will post 7.56 EPS for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Texas Capital Bancshares’s dividend payout ratio (DPR) is presently 10.75%.

Insider Transactions at Texas Capital Bancshares

In related news, insider Anna M. Alvarado sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total transaction of $353,325.00. Following the transaction, the insider owned 23,810 shares in the company, valued at $2,403,619.50. This trade represents a 12.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $101.22, for a total value of $5,010,390.00. Following the transaction, the chief executive officer directly owned 167,635 shares in the company, valued at approximately $16,968,014.70. This trade represents a 22.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 102,100 shares of company stock worth $10,366,023 in the last quarter. Insiders own 1.91% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently modified their holdings of the business. Evolve Private Wealth LLC grew its stake in Texas Capital Bancshares by 1.7% during the first quarter. Evolve Private Wealth LLC now owns 5,987 shares of the bank’s stock worth $568,000 after buying an additional 98 shares during the period. GAMMA Investing LLC raised its stake in shares of Texas Capital Bancshares by 9.8% in the 4th quarter. GAMMA Investing LLC now owns 1,463 shares of the bank’s stock valued at $132,000 after acquiring an additional 131 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Texas Capital Bancshares by 2.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,079 shares of the bank’s stock valued at $550,000 after acquiring an additional 135 shares during the period. Root Financial Partners LLC lifted its holdings in shares of Texas Capital Bancshares by 85.2% during the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock valued at $31,000 after acquiring an additional 150 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Texas Capital Bancshares by 14.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $143,000 after purchasing an additional 189 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.