Texas Capital Bancshares (NASDAQ:TCBI) Hits New 1-Year High – Here’s Why

Texas Capital Bancshares, Inc. (NASDAQ:TCBI)’s share price reached a new 52-week high on Thursday . The stock traded as high as $98.56 and last traded at $98.4260, with a volume of 34024 shares changing hands. The stock had previously closed at $96.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Texas Capital Bancshares from $84.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods increased their price objective on Texas Capital Bancshares from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Zacks Research downgraded Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Cowen reissued a “hold” rating on shares of Texas Capital Bancshares in a research report on Wednesday, January 7th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and a consensus target price of $93.09.

Texas Capital Bancshares Stock Up 2.2%

The company has a market cap of $4.51 billion, a P/E ratio of 16.17, a PEG ratio of 0.68 and a beta of 0.67. The stock has a 50-day moving average of $91.58 and a 200 day moving average of $87.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.41. Texas Capital Bancshares had a net margin of 15.14% and a return on equity of 9.51%. The firm had revenue of $340.35 million for the quarter, compared to the consensus estimate of $327.13 million. During the same period in the prior year, the company posted ($1.41) earnings per share. The business’s revenue for the quarter was up 171.6% on a year-over-year basis. Research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,000 shares of the business’s stock in a transaction on Friday, October 24th. The stock was purchased at an average cost of $20.61 per share, for a total transaction of $206,100.00. Following the completion of the purchase, the director directly owned 265,913 shares of the company’s stock, valued at approximately $5,480,466.93. This trade represents a 3.91% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Texas Capital Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Texas Capital Bancshares by 10.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock valued at $113,000 after purchasing an additional 121 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Texas Capital Bancshares by 4.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,902 shares of the bank’s stock valued at $245,000 after purchasing an additional 126 shares during the last quarter. Arizona State Retirement System boosted its position in Texas Capital Bancshares by 0.9% in the third quarter. Arizona State Retirement System now owns 13,575 shares of the bank’s stock valued at $1,147,000 after buying an additional 126 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Texas Capital Bancshares by 4.0% during the third quarter. PNC Financial Services Group Inc. now owns 3,665 shares of the bank’s stock worth $310,000 after buying an additional 142 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Texas Capital Bancshares by 2.1% during the third quarter. Teacher Retirement System of Texas now owns 7,149 shares of the bank’s stock worth $604,000 after buying an additional 144 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.