Insider Buying: Texas Capital Bancshares Inc (TCBI) Insider Buys 2,000 Shares of Stock

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Texas Capital Bancshares Inc (NASDAQ:TCBI) insider Vince A. Ackerson purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The shares were purchased at an average cost of $67.00 per share, with a total value of $134,000.00. Following the completion of the purchase, the insider now owns 28,485 shares of the company’s stock, valued at approximately $1,908,495. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Texas Capital Bancshares stock traded down $0.41 during midday trading on Friday, reaching $66.87. 34,014 shares of the stock traded hands, compared to its average volume of 529,941. Texas Capital Bancshares Inc has a 12 month low of $67.24 and a 12 month high of $103.05. The firm has a market cap of $3.87 billion, a PE ratio of 16.42, a PEG ratio of 1.11 and a beta of 1.77. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 2.00.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, October 17th. The bank reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.07). The company had revenue of $257.69 million during the quarter, compared to the consensus estimate of $257.14 million. Texas Capital Bancshares had a net margin of 23.10% and a return on equity of 13.60%. During the same period in the previous year, the business earned $1.12 earnings per share. As a group, equities research analysts forecast that Texas Capital Bancshares Inc will post 6.11 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oakbrook Investments LLC purchased a new stake in shares of Texas Capital Bancshares in the third quarter worth approximately $442,000. State of Alaska Department of Revenue raised its holdings in shares of Texas Capital Bancshares by 49.9% in the third quarter. State of Alaska Department of Revenue now owns 5,741 shares of the bank’s stock worth $473,000 after buying an additional 1,911 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Texas Capital Bancshares in the third quarter worth approximately $172,000. United Services Automobile Association raised its holdings in shares of Texas Capital Bancshares by 1.4% in the second quarter. United Services Automobile Association now owns 216,823 shares of the bank’s stock worth $19,839,000 after buying an additional 3,020 shares during the period. Finally, WINTON GROUP Ltd raised its holdings in shares of Texas Capital Bancshares by 3,729.3% in the second quarter. WINTON GROUP Ltd now owns 106,378 shares of the bank’s stock worth $9,734,000 after buying an additional 103,600 shares during the period.

TCBI has been the subject of a number of research reports. Zacks Investment Research raised Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Monday, September 3rd. BidaskClub lowered Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 15th. ValuEngine lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Royal Bank of Canada dropped their price target on Texas Capital Bancshares to $90.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, Barclays dropped their price target on Texas Capital Bancshares from $108.00 to $99.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $99.47.

About Texas Capital Bancshares

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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