Texas Capital Bancshares (NASDAQ:TCBI) Hits New 1-Year High – What’s Next?

Texas Capital Bancshares, Inc. (NASDAQ:TCBI)’s stock price reached 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 changing hands. The stock had previously closed at $87.73.

Wall Street Analysts Forecast Growth

TCBI has been the subject of a number of analyst reports. Royal Bank of Canada increased their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $77.00 to $82.00 in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Barclays raised their price target on Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Finally, DA Davidson upped their price objective on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.00.

Texas Capital Bancshares Stock Performance

The firm’s fifty day simple moving average is $78.32 and its 200 day simple moving average is $68.06. The company has a market capitalization of $4.12 billion, a PE ratio of 494.61, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping 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 analyst estimates of $279.64 million. On average, research analysts predict that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 20,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average price of $21.28 per share, with a total value of $425,600.00. Following the acquisition, the director now owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This trade represents a 30.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.53% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Cim Investment Management Inc. purchased a new stake in Texas Capital Bancshares in the 3rd quarter worth $212,000. Sanctuary Advisors LLC purchased a new stake in shares of Texas Capital Bancshares during the third quarter worth about $310,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Texas Capital Bancshares by 19.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank’s stock worth $4,045,000 after purchasing an additional 9,225 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Texas Capital Bancshares by 5.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock valued at $309,000 after buying an additional 217 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Texas Capital Bancshares by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock worth $81,856,000 after buying an additional 13,022 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Company Profile

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.