Texas Capital Bancshares (NASDAQ:TCBI) Sets New 52-Week High - Time to Buy?

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

Analyst Upgrades and Downgrades

TCBI has been the subject of a number of recent analyst reports. Stephens lowered their price objective on 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. JPMorgan Chase & Co. lifted their price objective on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the company a "hold" rating in a research report on Wednesday, May 21st. Hovde Group lowered their price objective on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods lowered their price objective on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $79.43.

Texas Capital Bancshares Price Performance

The company has a 50-day moving average price of $77.56 and a two-hundred day moving average price of $75.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $4.09 billion, a PE ratio of 51.43, a P/E/G ratio of 0.84 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a return on equity of 9.39% and a net margin of 5.04%. The company had revenue of $307.46 million during the quarter, compared to the consensus estimate of $298.90 million. During the same quarter in the prior year, the business earned $0.80 earnings per share. Sell-side analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the purchase, the director owned 60,000 shares in the company, valued at $1,216,800. The trade was a 21.21% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 29,800 shares of company stock valued at $1,059,205 over the last ninety days. 1.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TCBI. AQR Capital Management LLC lifted its stake in shares of Texas Capital Bancshares by 84.8% in the first quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank's stock worth $105,395,000 after acquiring an additional 657,630 shares in the last quarter. Norges Bank acquired a new position in shares of Texas Capital Bancshares in the fourth quarter worth about $42,050,000. Nuveen LLC acquired a new position in shares of Texas Capital Bancshares in the first quarter worth about $25,808,000. Azora Capital LP acquired a new position in shares of Texas Capital Bancshares in the fourth quarter worth about $25,232,000. Finally, Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Texas Capital Bancshares by 2,249.3% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank's stock worth $18,630,000 after acquiring an additional 238,785 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.

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.