Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) stock price hit a new 52-week low during Monday’s trading. The company traded as low as $49.98 and last traded at $50.31, with volume trading at 1344 shares. The stock had previously closed at $50.73.
TCBI has been the subject of several analyst reports. TheStreet downgraded shares of Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 research report. StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Thursday, April 14 research report. One financial analyst has assigned the stock a sell rating, four have issued a hold rating and three have assigned the company a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $70.36.
The stock’s fifty-day moving average price is $53.84 and its 200-day moving average price is $59.32. The company has a debt ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $2.53 billion, a PE ratio of 12.61, a P/E/G ratio of 1.97 and a beta of 1.59.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last announced its quarterly results on Wednesday, April 20. The bank reported earnings per share (EPS) of $0.69 for the quarter, missing analyst consensus estimates of $0.73 per ($0.04). The company posted revenue of $203.83 million in the quarter, compared to $213.06 million expected by analysts. Texas Capital Bancshares had a net margin of 22.71% and a return on equity of 7.80%. The company’s revenue for the quarter was down 14.8% from the same quarter last year. In the same quarter of the previous year, the company had achieved EPS of $1.33. Sell-side analysts expect Texas Capital Bancshares, Inc. to post earnings per share of 3.23 for the current fiscal year.
In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 3,000 shares of the company in a trade on Thursday, April 28. The shares were purchased at an average cost of $52.00 per share, for a total transaction of $156,000.00. Following the acquisition, the director now owns 68,652 shares of the company, valued at approximately $3,569,904. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Robert W. Stallings purchased 8,000 shares of the company in a transaction on Monday, April 25. The shares were acquired at an average price of $52.65 per share, with a total value of $421,200.00. Following the completion of the acquisition, the administrator now directly owns 44,810 shares of the company, valued at approximately $2,359,246.50. Disclosure of this purchase can be found here. Insiders purchased a total of 20,700 shares of the company valued at $1,087,345 during the last quarter. Insiders own 0.56% of the shares of the company.
A number of large investors have recently bought and sold shares of TCBI. JPMorgan Chase & Co. increased its stake in Texas Capital Bancshares by 1,374.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,518,217 shares of the bank valued at $91,473,000 after acquiring an additional 1,415,279 shares last quarter. Norges Bank acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter worth approximately $47,757,000. Invesco Ltd. increased its stake in shares of Texas Capital Bancshares by 84.4% during the 4th quarter. Invesco Ltd. now owns 929,516 shares of the bank worth $56,003,000 after purchasing an additional 425,431 shares in the last quarter. Wellington Management Group LLP acquired a new equity stake from Texas Capital Bancshares during Q3 valued at approximately $24,285,000. Finally, Granite Investment Partners LLC acquired a new equity stake from Texas Capital Bancshares during Q1 valued at approximately $19,151,000. Hedge funds and other institutional investors own 97.77% of the company’s shares.
Texas Capital Bancshares Company Profile (NASDAQ:TCBI)
Texas Capital Bancshares, Inc. operates as a bank holding company for Texas Capital Bank, is a full-service financial services company that provides customized solutions to businesses, entrepreneurs and individuals. The Company offers commercial banking, retail banking, investment banking and wealth management.
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