Insider Buying: Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Buys 3,000 Shares of Stock

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W. Stallings acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average cost of $19.70 per share, for a total transaction of $59,100.00. Following the completion of the acquisition, the director now owns 153,706 shares of the company’s stock, valued at $3,028,008.20. The transaction was disclosed in a filing with the SEC, which is available through this link.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI traded down $0.12 during trading hours on Wednesday, reaching $60.60. The stock had a trading volume of 393,982 shares, compared to its average volume of 463,421. Texas Capital Bancshares, Inc. has a 52-week low of $42.79 and a 52-week high of $66.18. The stock has a fifty day moving average of $59.02 and a 200 day moving average of $59.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $2.83 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 2.15 and a beta of 1.17.

Institutional Trading of Texas Capital Bancshares

Several large investors have recently made changes to their positions in the business. North Reef Capital Management LP raised its holdings in shares of Texas Capital Bancshares by 99.2% during the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock worth $85,405,000 after purchasing an additional 722,250 shares during the last quarter. Wellington Management Group LLP grew its position in Texas Capital Bancshares by 97.9% during the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after purchasing an additional 547,336 shares during the period. Norges Bank acquired a new stake in Texas Capital Bancshares during the 4th quarter worth about $35,120,000. Clearbridge Investments LLC purchased a new position in shares of Texas Capital Bancshares during the 3rd quarter valued at about $13,354,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Texas Capital Bancshares by 155.3% in the 3rd quarter. AQR Capital Management LLC now owns 297,143 shares of the bank’s stock valued at $17,502,000 after buying an additional 180,743 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their price target on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Mizuho reiterated a “hold” rating and issued a $66.00 target price (down from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Barclays assumed coverage on shares of Texas Capital Bancshares in a report on Friday, March 8th. They issued an “underweight” rating and a $47.00 price target on the stock. Truist Financial reduced their price objective on shares of Texas Capital Bancshares from $66.00 to $61.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Finally, Hovde Group cut their price target on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a report on Friday, April 19th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Texas Capital Bancshares currently has an average rating of “Hold” and a consensus target price of $63.58.

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.