Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Buys $156,492.00 in Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W. Stallings purchased 5,670 shares of the stock in a transaction on Friday, January 24th. The stock was acquired at an average price of $27.60 per share, for a total transaction of $156,492.00. Following the completion of the purchase, the director now directly owns 180,893 shares in the company, valued at approximately $4,992,646.80. The trade was a 3.24 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Texas Capital Bancshares Stock Performance

Shares of TCBI traded down $0.85 during midday trading on Tuesday, reaching $77.83. 437,990 shares of the stock were exchanged, compared to its average volume of 511,411. The stock’s 50 day simple moving average is $81.61 and its 200 day simple moving average is $74.64. The company has a market cap of $3.60 billion, a P/E ratio of 432.39, a PEG ratio of 0.73 and a beta of 1.17. Texas Capital Bancshares, Inc. has a twelve month low of $54.68 and a twelve month high of $91.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. On average, sell-side analysts expect that Texas Capital Bancshares, Inc. will post 4.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TCBI shares. JPMorgan Chase & Co. dropped their target price on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a report on Friday. Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $77.00 to $82.00 in a report on Friday, October 18th. Truist Financial boosted their target price on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada lifted their price objective on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Finally, Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Four equities research 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.73.

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. Algert Global LLC increased its stake in Texas Capital Bancshares by 367.3% during the 3rd quarter. Algert Global LLC now owns 22,316 shares of the bank’s stock worth $1,595,000 after acquiring an additional 17,540 shares during the period. Jane Street Group LLC lifted its position in shares of Texas Capital Bancshares by 107.2% during the 3rd quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock valued at $9,481,000 after acquiring an additional 68,632 shares during the period. LMR Partners LLP acquired a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth $740,000. Wolverine Asset Management LLC increased its position in shares of Texas Capital Bancshares by 23.6% in the third quarter. Wolverine Asset Management LLC now owns 41,038 shares of the bank’s stock worth $2,933,000 after purchasing an additional 7,849 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Texas Capital Bancshares by 19.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank’s stock worth $4,045,000 after purchasing an additional 9,225 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.