Texas Capital Bancshares (NASDAQ:TCBI) Sets New 52-Week High - Here's What Happened

Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $94.61 and last traded at $87.50, with a volume of 116011 shares trading hands. The stock had previously closed at $86.35.

Analysts Set New Price Targets

TCBI has been the topic of several research analyst reports. Raymond James Financial reduced their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Hovde Group reduced their price target on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday. JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Finally, Stephens reduced their price target on 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. Three research 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $79.43.

Texas Capital Bancshares Stock Up 1.5%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $4.02 billion, a P/E ratio of 50.30, a P/E/G ratio of 0.96 and a beta of 0.66. The stock has a fifty day moving average price of $76.60 and a two-hundred day moving average price of $75.31.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 EPS 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 the consensus estimate of $284.40 million. Texas Capital Bancshares had a return on equity of 9.39% and a net margin of 5.04%. Research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert W. Stallings acquired 10,500 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the purchase, the director directly owned 60,000 shares in the company, valued at $1,216,800. This represents a 21.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 29,800 shares of company stock worth $1,059,205. 1.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TCBI. Assetmark Inc. acquired a new position in Texas Capital Bancshares during the 4th quarter worth $32,000. Proficio Capital Partners LLC acquired a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at $1,688,000. Raymond James Financial Inc. acquired a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at $784,000. PNC Financial Services Group Inc. lifted its holdings in shares of Texas Capital Bancshares by 87.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,559 shares of the bank's stock valued at $278,000 after buying an additional 1,657 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Texas Capital Bancshares by 18.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,381 shares of the bank's stock valued at $968,000 after buying an additional 1,908 shares during the period. Institutional investors and hedge funds own 96.88% of the company's stock.

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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