Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W. Stallings Acquires 6,000 Shares of Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W. Stallings purchased 6,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were purchased at an average price of $55.48 per share, for a total transaction of $332,880.00. Following the purchase, the director now owns 285,000 shares in the company, valued at approximately $15,811,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock opened at $54.72 on Tuesday. The firm has a market cap of $2.63 billion, a PE ratio of 7.35, a P/E/G ratio of 1.69 and a beta of 1.27. The business has a 50-day moving average price of $57.45 and a 200 day moving average price of $56.46. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. Texas Capital Bancshares, Inc. has a twelve month low of $42.79 and a twelve month high of $69.26.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, October 19th. The bank reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.17. Texas Capital Bancshares had a return on equity of 7.83% and a net margin of 19.39%. The business had revenue of $472.64 million during the quarter, compared to the consensus estimate of $267.89 million. During the same period in the prior year, the company posted $0.74 EPS. Sell-side analysts predict that Texas Capital Bancshares, Inc. will post 4.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TCBI has been the topic of a number of recent research reports. Truist Financial dropped their target price on Texas Capital Bancshares from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, October 23rd. Raymond James cut their price objective on shares of Texas Capital Bancshares from $72.00 to $69.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, November 15th. StockNews.com began coverage on shares of Texas Capital Bancshares in a research report on Thursday, October 5th. They set a “sell” rating for the company. Royal Bank of Canada cut their price target on Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Friday, October 20th. Finally, Jefferies Financial Group boosted their price objective on Texas Capital Bancshares from $60.00 to $64.00 in a report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Texas Capital Bancshares has an average rating of “Hold” and a consensus target price of $63.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Hennessy Advisors Inc. lifted its position in shares of Texas Capital Bancshares by 16.3% in the second quarter. Hennessy Advisors Inc. now owns 50,000 shares of the bank’s stock valued at $2,575,000 after acquiring an additional 7,000 shares in the last quarter. Palogic Value Management L.P. purchased a new stake in shares of Texas Capital Bancshares during the first quarter worth $490,000. Hodges Capital Management Inc. raised its position in shares of Texas Capital Bancshares by 5.9% in the second quarter. Hodges Capital Management Inc. now owns 78,350 shares of the bank’s stock valued at $5,065,000 after buying an additional 4,375 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Texas Capital Bancshares in the second quarter worth about $1,557,000. Finally, Peregrine Capital Management LLC lifted its stake in Texas Capital Bancshares by 75,714.8% in the 2nd quarter. Peregrine Capital Management LLC now owns 159,211 shares of the bank’s stock worth $8,199,000 after purchasing an additional 159,001 shares in the last quarter. Institutional investors and hedge funds 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, and wealth management services.