Texas Capital Bancshares Inc (NASDAQ:TCBI) saw unusually-high trading volume on Monday . Approximately 2,700,544 shares changed hands during trading, an increase of 330% from the previous session’s volume of 628,330 shares.The stock last traded at $63.49 and had previously closed at $57.89.
Several brokerages have recently issued reports on TCBI. SunTrust Banks cut their target price on shares of Texas Capital Bancshares from $63.00 to $58.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. BidaskClub lowered shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Wedbush lowered their price target on shares of Texas Capital Bancshares from $58.00 to $57.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Raymond James cut shares of Texas Capital Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 29th. Finally, ValuEngine raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $59.89.
The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.20. The stock has a market capitalization of $2.91 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.15 and a beta of 1.90. The stock has a 50-day moving average price of $57.24 and a two-hundred day moving average price of $57.35.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, October 16th. The bank reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.21. Texas Capital Bancshares had a return on equity of 12.95% and a net margin of 22.29%. The company had revenue of $272.47 million during the quarter, compared to the consensus estimate of $262.12 million. During the same quarter in the prior year, the company earned $1.65 earnings per share. Equities analysts anticipate that Texas Capital Bancshares Inc will post 6.28 earnings per share for the current fiscal year.
In other Texas Capital Bancshares news, Director Steve Rosenberg sold 1,997 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $55.48, for a total value of $110,793.56. Following the completion of the transaction, the director now directly owns 36,115 shares in the company, valued at approximately $2,003,660.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in TCBI. FMR LLC increased its position in shares of Texas Capital Bancshares by 178,572.6% during the first quarter. FMR LLC now owns 150,085 shares of the bank’s stock valued at $8,194,000 after buying an additional 150,001 shares during the period. Arizona State Retirement System boosted its holdings in shares of Texas Capital Bancshares by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 36,488 shares of the bank’s stock valued at $2,239,000 after buying an additional 413 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Texas Capital Bancshares by 0.3% in the 2nd quarter. Fisher Asset Management LLC now owns 248,736 shares of the bank’s stock worth $15,265,000 after buying an additional 814 shares during the period. First Trust Advisors LP grew its position in shares of Texas Capital Bancshares by 28.2% in the 2nd quarter. First Trust Advisors LP now owns 236,433 shares of the bank’s stock worth $14,510,000 after buying an additional 51,937 shares during the period. Finally, Aperio Group LLC increased its stake in shares of Texas Capital Bancshares by 3.0% in the 2nd quarter. Aperio Group LLC now owns 53,142 shares of the bank’s stock worth $3,261,000 after acquiring an additional 1,560 shares in the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.
About Texas Capital Bancshares (NASDAQ:TCBI)
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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