Texas Capital Bancshares (NASDAQ:TCBI) Hits New 12-Month High – Time to Buy?

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) hit a new 52-week high during trading on Tuesday . The company traded as high as $89.45 and last traded at $89.11, with a volume of 10586 shares trading hands. The stock had previously closed at $87.96.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Hovde Group lifted their price objective on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $77.00 to $82.00 in a report on Friday, October 18th. Citigroup reiterated a “sell” rating and set a $60.00 price target on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Stephens boosted their price objective on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $74.00.

Texas Capital Bancshares Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $4.11 billion, a P/E ratio of 488.67, a price-to-earnings-growth ratio of 0.80 and a beta of 1.12. The firm has a 50-day moving average price of $74.08 and a 200 day moving average price of $65.92.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The company had revenue of $304.91 million during the quarter, compared to analysts’ expectations of $279.64 million. On average, analysts expect that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current year.

Insider Activity

In related news, Director Robert W. Stallings acquired 20,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average price of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.99% of the stock is currently owned by company insiders.

Institutional Trading of Texas Capital Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in shares of Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after acquiring an additional 506,094 shares during the period. Millennium Management LLC lifted its position in shares of Texas Capital Bancshares by 146.7% in the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after acquiring an additional 221,454 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Texas Capital Bancshares in the second quarter valued at about $11,489,000. American Century Companies Inc. lifted its position in shares of Texas Capital Bancshares by 43.8% in the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after acquiring an additional 171,263 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Texas Capital Bancshares by 1,905.7% in the second quarter. SG Americas Securities LLC now owns 78,864 shares of the bank’s stock valued at $4,822,000 after acquiring an additional 74,932 shares in the last quarter. Institutional investors 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.