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

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) posted its quarterly earnings results on Thursday. The bank reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.35, Zacks reports. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%. The business had revenue of $307.46 million during the quarter, compared to the consensus estimate of $298.90 million. During the same period last year, the firm earned $0.80 earnings per share.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ:TCBI traded up $0.26 on Friday, hitting $89.73. 808,730 shares of the company were exchanged, compared to its average volume of 462,468. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 0.88 and a beta of 0.66. The company's 50 day moving average price is $78.23 and its two-hundred day moving average price is $75.66. Texas Capital Bancshares has a one year low of $56.24 and a one year high of $94.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00.

Insiders Place Their Bets

In related news, Director Robert W. Stallings bought 10,500 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, June 11th. The shares were bought at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the transaction, the director owned 60,000 shares of the company's stock, valued at approximately $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought a total of 29,800 shares of company stock valued at $1,059,205 over the last quarter. Insiders own 1.72% of the company's stock.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in TCBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $2,062,000 after acquiring an additional 1,206 shares during the period. United Services Automobile Association acquired a new stake in shares of Texas Capital Bancshares during the 1st quarter worth about $230,000. Goldman Sachs Group Inc. lifted its stake in shares of Texas Capital Bancshares by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank's stock worth $41,837,000 after buying an additional 20,231 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Texas Capital Bancshares by 29.5% during 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. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TCBI has been the topic of several recent research reports. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Stephens decreased their price target on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Citigroup lifted their price objective on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the stock a "sell" rating in a research report on Friday. Piper Sandler lowered their price objective on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Raymond James Financial lowered their price objective on shares of Texas Capital Bancshares from $87.00 to $80.00 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 assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $82.50.

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.