Shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) fell 5.2% during trading on Wednesday . The stock traded as low as $55.71 and last traded at $55.77. 1,875,482 shares traded hands during mid-day trading, an increase of 172% from the average session volume of 688,666 shares. The stock had previously closed at $58.81.
Several brokerages have commented on TCBI. Zacks Investment Research raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 28th. TheStreet lowered Texas Capital Bancshares from a “b-” rating to a “c+” rating in a report on Tuesday, November 20th. Wedbush dropped their price objective on Texas Capital Bancshares from $93.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, December 6th. Barclays upgraded Texas Capital Bancshares from an “equal weight” rating to an “overweight” rating and set a $70.00 target price on the stock in a research report on Thursday, January 10th. Finally, Jefferies Financial Group downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $90.93.
The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 9.63, a P/E/G ratio of 0.91 and a beta of 1.79. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 1.83.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, January 23rd. The bank reported $1.38 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.21). The firm had revenue of $255.95 million during the quarter, compared to analysts’ expectations of $253.17 million. Texas Capital Bancshares had a net margin of 24.02% and a return on equity of 13.35%. During the same quarter last year, the business earned $1.19 EPS. Analysts forecast that Texas Capital Bancshares Inc will post 6.35 earnings per share for the current fiscal year.
In related news, Director Ian J. Turpin sold 1,294 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $60.72, for a total transaction of $78,571.68. Following the transaction, the director now owns 8,102 shares in the company, valued at $491,953.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steve Rosenberg sold 2,305 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $61.31, for a total value of $141,319.55. Following the transaction, the director now owns 35,008 shares in the company, valued at approximately $2,146,340.48. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Texas Capital Bancshares by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 524,855 shares of the bank’s stock worth $26,814,000 after buying an additional 49,522 shares in the last quarter. Norges Bank purchased a new position in Texas Capital Bancshares during the fourth quarter worth approximately $14,746,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Texas Capital Bancshares by 14.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,336,828 shares of the bank’s stock worth $68,298,000 after buying an additional 170,059 shares in the last quarter. Amalgamated Bank lifted its position in Texas Capital Bancshares by 33.3% during the fourth quarter. Amalgamated Bank now owns 11,001 shares of the bank’s stock worth $562,000 after buying an additional 2,750 shares in the last quarter. Finally, Context BH Capital Management LP purchased a new position in Texas Capital Bancshares during the fourth quarter worth approximately $12,423,000. Hedge funds and other institutional investors own 97.88% of the company’s stock.
Texas Capital Bancshares Company Profile (NASDAQ:TCBI)
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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