Texas Capital Bancshares (NASDAQ:TCBI) Posts Quarterly Earnings Results

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) posted its quarterly earnings data on Thursday. The bank reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.35, Zacks reports. The business had revenue of $307.46 million during the quarter, compared to the consensus estimate of $298.90 million. Texas Capital Bancshares had a return on equity of 9.39% and a net margin of 5.04%. During the same period in the prior year, the business posted $0.80 earnings per share.

Texas Capital Bancshares Stock Up 4.5%

TCBI stock traded up $3.82 during mid-day trading on Thursday, reaching $89.47. 1,457,605 shares of the company traded hands, compared to its average volume of 463,827. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 51.42, a P/E/G ratio of 0.85 and a beta of 0.66. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.21. Texas Capital Bancshares has a fifty-two week low of $56.24 and a fifty-two week high of $94.61. The firm's 50 day moving average price is $77.90 and its 200 day moving average price is $75.60.

Insider Activity

In related news, Director Robert W. Stallings bought 10,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were bought at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of the transaction, the director directly owned 60,000 shares in the company, valued at approximately $1,216,800. This represents a 21.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 29,800 shares of company stock worth $1,059,205 over the last 90 days. 1.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds have recently bought and sold shares of the company. United Services Automobile Association purchased a new position in shares of Texas Capital Bancshares in the 1st quarter worth about $230,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Texas Capital Bancshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank's stock worth $2,062,000 after buying an additional 1,206 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Texas Capital Bancshares by 29.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank's stock worth $8,050,000 after buying an additional 24,538 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Texas Capital Bancshares by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank's stock valued at $41,837,000 after acquiring an additional 20,231 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TCBI. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday. Piper Sandler decreased their price objective on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods decreased their price target on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a report on Monday, April 21st. DA Davidson reduced their price objective on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Finally, Stephens reduced their price objective on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $79.43.

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.