Insider Buying: Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Purchases 1,000 Shares of Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) Director Robert W. Stallings bought 1,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $19.85 per share, for a total transaction of $19,850.00. Following the transaction, the director now directly owns 230,913 shares of the company's stock, valued at $4,583,623.05. The trade was a 0.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Texas Capital Bancshares Stock Up 0.6 %

Shares of Texas Capital Bancshares stock traded up $0.43 during trading hours on Monday, hitting $71.01. 134,697 shares of the company's stock traded hands, compared to its average volume of 525,946. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $91.80. The stock has a 50 day simple moving average of $70.63 and a 200-day simple moving average of $77.58. The company has a market cap of $3.26 billion, a PE ratio of 55.50, a PEG ratio of 0.75 and a beta of 0.62.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released 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). The company had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. Equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of institutional investors have recently modified their holdings of TCBI. Norges Bank acquired a new stake in Texas Capital Bancshares during the fourth quarter valued at approximately $42,050,000. Azora Capital LP bought a new stake in shares of Texas Capital Bancshares in the 4th quarter valued at approximately $25,232,000. SG Americas Securities LLC acquired a new stake in shares of Texas Capital Bancshares during the 1st quarter valued at approximately $16,938,000. Millennium Management LLC lifted its stake in Texas Capital Bancshares by 60.6% during the fourth quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock worth $30,144,000 after purchasing an additional 145,393 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Texas Capital Bancshares by 22.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock worth $58,246,000 after purchasing an additional 138,734 shares during the period. Institutional investors and hedge funds own 96.88% of the company's stock.

Analyst Ratings Changes

TCBI has been the subject of several research analyst reports. Piper Sandler lowered their target price on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Hovde Group decreased their price target on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Raymond James lowered their target price on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Finally, 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 report on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $76.64.

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.

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