Texas Capital Bancshares (NASDAQ:TCBI) Sees Large Volume Increase - Time to Buy?

Key Points

• Texas Capital Bancshares experienced a significant increase in trading volume, with 594,370 shares exchanged, a rise of 25% from the prior session.
• Several brokerages have given Texas Capital Bancshares a consensus rating of "Hold," with an average price target of $84.23.
• The company reported $1.63 earnings per share in its last quarterly earnings, significantly beating the consensus estimate and representing a year-over-year growth from $0.80 EPS.

Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) saw an uptick in trading volume on Thursday . 594,370 shares traded hands during trading, an increase of 25% from the previous session's volume of 475,821 shares.The stock last traded at $79.32 and had previously closed at $83.38.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TCBI. Cowen began coverage on shares of Texas Capital Bancshares in a report on Wednesday, September 24th. They set a "hold" rating for the company. Zacks Research lowered shares of Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Texas Capital Bancshares in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Citigroup raised their target price on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a report on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $84.23.

Texas Capital Bancshares Stock Performance

The firm has a market capitalization of $3.58 billion, a P/E ratio of 30.91, a P/E/G ratio of 0.68 and a beta of 0.67. The firm has a 50-day moving average price of $85.15 and a two-hundred day moving average price of $78.83. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.35. The firm 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 10.36% and a net margin of 6.79%.During the same period in the previous year, the company posted $0.80 earnings per share. On average, analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Institutional Trading of Texas Capital Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in TCBI. T. Rowe Price Investment Management Inc. grew its stake in Texas Capital Bancshares by 0.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank's stock valued at $248,936,000 after purchasing an additional 26,786 shares during the last quarter. AQR Capital Management LLC grew its stake in Texas Capital Bancshares by 7.1% in the second quarter. AQR Capital Management LLC now owns 1,534,446 shares of the bank's stock valued at $121,636,000 after purchasing an additional 101,675 shares during the last quarter. Azora Capital LP grew its stake in Texas Capital Bancshares by 141.3% in the second quarter. Azora Capital LP now owns 930,014 shares of the bank's stock valued at $73,843,000 after purchasing an additional 544,590 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Texas Capital Bancshares by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 813,028 shares of the bank's stock valued at $60,733,000 after purchasing an additional 68,195 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Texas Capital Bancshares by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 657,626 shares of the bank's stock valued at $52,216,000 after purchasing an additional 71,774 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

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.

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