Texas Capital Bancshares (NASDAQ:TCBI) Reaches New 12-Month High – Time to Buy?

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) hit a new 52-week high on Monday . The company traded as high as $91.36 and last traded at $91.36, with a volume of 141317 shares trading hands. The stock had previously closed at $87.73.

Analyst Ratings Changes

A number of research firms have recently issued reports on TCBI. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a report on Tuesday, September 17th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a report on Monday, September 9th. Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Hovde Group increased their price target on Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.00.

Texas Capital Bancshares Price Performance

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The company’s fifty day moving average is $78.32 and its two-hundred day moving average is $68.06. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 494.61, a P/E/G ratio of 0.85 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The firm had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. As a group, research analysts predict that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, October 22nd. The shares were bought at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the acquisition, the director now directly owns 84,587 shares in the company, valued at $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.53% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Hedge funds have recently modified their holdings of the stock. AlphaMark Advisors LLC increased its holdings in Texas Capital Bancshares by 2.6% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank’s stock worth $386,000 after purchasing an additional 139 shares during the period. Blue Trust Inc. raised its holdings in Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after acquiring an additional 169 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Texas Capital Bancshares by 3.5% in the third quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank’s stock worth $383,000 after acquiring an additional 180 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in Texas Capital Bancshares by 5.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock worth $309,000 after acquiring an additional 217 shares in the last quarter. Finally, Tectonic Advisors LLC increased its position in shares of Texas Capital Bancshares by 1.1% in the 3rd quarter. Tectonic Advisors LLC now owns 22,818 shares of the bank’s stock valued at $1,631,000 after purchasing an additional 244 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.