Texas Capital Bancshares (NASDAQ:TCBI) Reaches New 12-Month High – What’s Next?

by · The Cerbat Gem

Texas Capital Bancshares, Inc. (NASDAQ:TCBIGet Free Report) shares reached a new 52-week high on Friday . The company traded as high as $98.31 and last traded at $96.0910, with a volume of 34494 shares. The stock had previously closed at $97.48.

Analysts Set New Price Targets

Several equities research analysts recently commented on TCBI shares. DA Davidson reissued a “neutral” rating and issued a $91.00 price target on shares of Texas Capital Bancshares in a research note on Thursday, November 20th. Weiss Ratings upgraded shares of Texas Capital Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of Texas Capital Bancshares from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 16th. Hovde Group increased their price target on shares of Texas Capital Bancshares from $85.00 to $93.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Finally, TD Cowen raised shares of Texas Capital Bancshares to a “hold” rating in a research note on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and an average target price of $91.90.

Get Our Latest Stock Report on Texas Capital Bancshares

Texas Capital Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $90.64 and its two-hundred day simple moving average is $86.65. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 0.55 and a beta of 0.67.

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

Insider Buying and Selling

In related news, Director Robert W. Stallings purchased 10,000 shares of Texas Capital Bancshares stock in a transaction on Friday, October 24th. The stock was purchased at an average cost of $20.61 per share, with a total value of $206,100.00. Following the acquisition, the director directly owned 265,913 shares in the company, 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 accessible through this link. 1.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TCBI. Norges Bank bought a new stake in shares of Texas Capital Bancshares in the 2nd quarter worth approximately $45,364,000. Azora Capital LP raised its position in Texas Capital Bancshares by 141.3% in the 2nd quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock valued at $73,843,000 after purchasing an additional 544,590 shares during the last quarter. AQR Capital Management LLC boosted its stake in Texas Capital Bancshares by 25.1% in the third quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock worth $162,229,000 after purchasing an additional 384,748 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Texas Capital Bancshares by 2,707.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock worth $29,496,000 after buying an additional 336,506 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of Texas Capital Bancshares by 731.5% during the third quarter. Algert Global LLC now owns 294,840 shares of the bank’s stock worth $24,923,000 after purchasing an additional 259,380 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

(Get Free Report)

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.

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