Texas Capital Bancshares, Inc. (TCBI) Trading Up 5.7%

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) were up 5.7% during mid-day trading on Monday . The company traded as high as $75.10 and last traded at $75.00. Approximately 716,314 shares changed hands during mid-day trading, an increase of 50% from the average daily volume of 476,764 shares. The stock had previously closed at $70.95.

A number of analysts have issued reports on TCBI shares. Jefferies Group LLC reiterated a “buy” rating and issued a $104.00 price target on shares of Texas Capital Bancshares in a report on Friday, July 14th. ValuEngine upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Tuesday, July 11th. Barclays PLC reiterated an “equal weight” rating and issued a $80.00 price target (up from $75.00) on shares of Texas Capital Bancshares in a report on Wednesday, July 12th. Finally, BidaskClub upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $86.86.

The firm has a market cap of $3.83 billion, a PE ratio of 21.43 and a beta of 1.67. The firm has a 50 day moving average price of $75.74 and a 200-day moving average price of $78.48.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, July 19th. The bank reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The business had revenue of $201.73 million during the quarter, compared to analysts’ expectations of $197.10 million. Texas Capital Bancshares had a net margin of 21.84% and a return on equity of 10.01%. During the same period in the prior year, the business earned $0.78 earnings per share. Analysts anticipate that Texas Capital Bancshares, Inc. will post $4.01 earnings per share for the current year.

In other Texas Capital Bancshares news, insider C Keith Cargill bought 3,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $74.15 per share, for a total transaction of $222,450.00. Following the completion of the transaction, the insider now directly owns 80,286 shares of the company’s stock, valued at $5,953,206.90. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in Texas Capital Bancshares by 75.0% during the first quarter. Russell Investments Group Ltd. now owns 79,745 shares of the bank’s stock worth $6,655,000 after purchasing an additional 34,168 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Texas Capital Bancshares during the first quarter worth about $1,469,000. Canada Pension Plan Investment Board increased its position in Texas Capital Bancshares by 88.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock worth $142,000 after purchasing an additional 800 shares during the last quarter. State Treasurer State of Michigan acquired a new stake in Texas Capital Bancshares during the first quarter worth about $1,677,000. Finally, US Bancorp DE increased its position in Texas Capital Bancshares by 72.4% during the first quarter. US Bancorp DE now owns 3,821 shares of the bank’s stock worth $318,000 after purchasing an additional 1,605 shares during the last quarter.

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Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.

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