Texas Capital Bancshares (NASDAQ:TCBI) Reaches New 1-Year High – Should You Buy?

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Royal Bank of Canada boosted their price objective on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Truist Financial upped their price target on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the company from $77.00 to $82.00 in a research report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.00.

Texas Capital Bancshares Trading Up 0.1 %

The business has a 50 day moving average of $75.01 and a two-hundred day moving average of $66.30. 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 firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 495.06, a P/E/G ratio of 0.85 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. Equities analysts predict that Texas Capital Bancshares, Inc. will post 4.15 EPS for the current year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was purchased at an average cost of $21.28 per share, with a total value of $425,600.00. Following the completion of the purchase, the director now directly owns 84,587 shares in the company, valued at $1,800,011.36. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after purchasing an additional 506,094 shares during the period. Millennium Management LLC boosted its holdings 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 worth $22,767,000 after acquiring an additional 221,454 shares during the period. Mesirow Institutional Investment Management Inc. bought a new position in shares of Texas Capital Bancshares in the second quarter worth $11,489,000. American Century Companies Inc. raised 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 worth $34,392,000 after buying an additional 171,263 shares in the last quarter. Finally, SG Americas Securities LLC raised 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 worth $4,822,000 after buying an additional 74,932 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

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.