Texas Capital Bancshares (NASDAQ:TCBI) Shares Gap Up to $59.66

Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $59.66, but opened at $61.30. Texas Capital Bancshares shares last traded at $61.18, with a volume of 2,407 shares changing hands.

Wall Street Analysts Forecast Growth

TCBI has been the subject of several recent research reports. DA Davidson reaffirmed a “neutral” rating on shares of Texas Capital Bancshares in a research report on Wednesday, December 21st. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada lowered their price objective on shares of Texas Capital Bancshares from $65.00 to $62.00 and set a “sector perform” rating for the company in a research report on Friday, October 21st. Truist Financial increased their price objective on shares of Texas Capital Bancshares from $68.00 to $80.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wedbush reiterated a “neutral” rating and set a $60.00 target price on shares of Texas Capital Bancshares in a research note on Wednesday, September 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.88.

Texas Capital Bancshares Price Performance

The company has a 50 day moving average of $58.88 and a 200-day moving average of $59.40. The stock has a market capitalization of $3.17 billion, a P/E ratio of 19.81, a PEG ratio of 1.84 and a beta of 1.31. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 0.36.

Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last announced its quarterly earnings data on Wednesday, October 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.29). Texas Capital Bancshares had a return on equity of 6.56% and a net margin of 16.45%. The firm had revenue of $264.41 million for the quarter, compared to the consensus estimate of $258.56 million. During the same quarter last year, the business earned $0.76 earnings per share. Sell-side analysts predict that Texas Capital Bancshares, Inc. will post 3.12 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert W. Stallings bought 4,175 shares of the business’s stock in a transaction on Monday, October 24th. The shares were bought at an average cost of $56.55 per share, for a total transaction of $236,096.25. Following the completion of the purchase, the director now owns 172,000 shares of the company’s stock, valued at approximately $9,726,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Timothy J. Storms bought 4,400 shares of the business’s stock in a transaction on Monday, October 24th. The shares were bought at an average cost of $57.21 per share, for a total transaction of $251,724.00. Following the completion of the purchase, the insider now owns 15,993 shares of the company’s stock, valued at approximately $914,959.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Stallings bought 4,175 shares of the business’s stock in a transaction on Monday, October 24th. The stock was bought at an average price of $56.55 per share, for a total transaction of $236,096.25. Following the completion of the purchase, the director now directly owns 172,000 shares of the company’s stock, valued at approximately $9,726,600. The disclosure for this purchase can be found here. Insiders have bought 14,101 shares of company stock worth $602,612 over the last ninety days. 0.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of hedge funds have recently added to or reduced their stakes in TCBI. Wipfli Financial Advisors LLC bought a new stake in shares of Texas Capital Bancshares during the third quarter valued at about $35,000. Eagle Bay Advisors LLC increased its stake in Texas Capital Bancshares by 65.9% during the 2nd quarter. Eagle Bay Advisors LLC now owns 720 shares of the bank’s stock valued at $38,000 after buying an additional 286 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Texas Capital Bancshares by 60.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,044 shares of the bank’s stock valued at $120,000 after buying an additional 767 shares during the period. Pictet Asset Management SA bought a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth about $201,000. Finally, Cim Investment Management Inc. acquired a new stake in shares of Texas Capital Bancshares in the 3rd quarter worth approximately $209,000. 96.91% of the stock is currently owned by institutional investors.

About Texas Capital Bancshares

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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, and wealth management services.