Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Purchases $138,460.00 in Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W. Stallings bought 7,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were purchased at an average cost of $19.78 per share, for a total transaction of $138,460.00. Following the completion of the purchase, the director now owns 255,913 shares in the company, valued at approximately $5,061,959.14. This represents a 2.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Texas Capital Bancshares Trading Down 0.7%

Shares of Texas Capital Bancshares stock opened at $72.13 on Thursday. The firm has a market capitalization of $3.31 billion, a PE ratio of 56.35, a P/E/G ratio of 0.75 and a beta of 0.65. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $91.80. The firm’s 50-day moving average price is $69.60 and its 200 day moving average price is $76.37. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. The company had revenue of $280.48 million during the quarter, compared to analysts’ expectations of $284.40 million. On average, sell-side analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TCBI. AQR Capital Management LLC lifted its stake in Texas Capital Bancshares by 84.8% in the 1st quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank’s stock worth $105,395,000 after purchasing an additional 657,630 shares in the last quarter. Norges Bank purchased a new position in Texas Capital Bancshares in the 4th quarter worth approximately $42,050,000. Nuveen LLC purchased a new position in Texas Capital Bancshares in the 1st quarter worth approximately $25,808,000. Azora Capital LP purchased a new position in Texas Capital Bancshares in the 4th quarter worth approximately $25,232,000. Finally, Texas Capital Bank Wealth Management Services Inc lifted its stake in Texas Capital Bancshares by 2,249.3% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank’s stock worth $18,630,000 after purchasing an additional 238,785 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on TCBI. JPMorgan Chase & Co. lowered their target price on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an “underweight” rating on the stock in a research note on Monday, April 21st. DA Davidson lowered their target price on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Barclays lowered their target price on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their target price on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Finally, Piper Sandler lowered their target price on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average target price of $78.00.

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.