Texas capital

Texas Capital Bancshares (NASDAQ:TCBI) Reports Quarterly Results

Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) announced its quarterly results on Thursday. The bank reported earnings per share (EPS) of $0.59 for the quarter, missing the consensus estimate of $0.74 per ($0.15), Briefing.com reports. Texas Capital Bancshares had a return on equity of 7.80% and a net margin of 22.71%. In the same period a year earlier, the company posted earnings per share of $1.31.

Performance of Texas Capital Bancshares shares

Shares of TCBI opened at $56.29 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt ratio of 0.33. The company has a market capitalization of $2.86 billion, a price/earnings ratio of 14.09, a PEG ratio of 2.04 and a beta of 1.54. The stock has a 50-day moving average of $53.43 and a 200-day moving average of $58.33. Texas Capital Bancshares has a 12-month low of $48.79 and a 12-month high of $71.60.

Wall Street analysts predict growth

Several brokerages have published reports on TCBI. TheStreet downgraded Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 report. Raymond James upgraded Texas Capital Bancshares from an “outperform” rating to a “strong buy” rating and set a target price of $70.00 on the stock in a Thursday, July 7 report. StockNews.com downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Thursday, April 14 report. Jefferies Financial Group raised its target price on Texas Capital Bancshares from $51.00 to $52.00 in a Monday, July 11 report. Finally, Truist Financial lowered its price target on Texas Capital Bancshares from $69.00 to $65.00 and set a “buy” rating on the stock in a Wednesday, June 15 report. One analyst rated the stock with a sell rating, four issued a hold rating, three gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.97.

Insider Activity at Texas Capital Bancshares

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In other Texas Capital Bancshares news, Ragusa Director Elysia Holt purchased 2,000 shares of the company in a transaction that took place on Thursday, June 2. The stock was purchased at an average cost of $55.91 per share, with a total value of $111,820.00. Following completion of the transaction, the director now owns 14,164 shares of the company, valued at approximately $791,909.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Separately, Ragusa director Elysia Holt bought 2,000 shares of the company in a trade on Thursday, June 2. The shares were acquired at an average cost of $55.91 per share, with a total value of $111,820.00. Following completion of the transaction, the administrator now directly owns 14,164 shares of the company, valued at approximately $791,909.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Additionally, director Larry L. Helm purchased 5,700 shares of the company in a transaction on Monday, May 2. The shares were purchased at an average cost of $52.25 per share, with a total value of $297,825.00. Following completion of the transaction, the administrator now directly owns 77,858 shares of the company, valued at $4,068,080.50. Disclosure of this purchase can be found here. Over the past three months, insiders have acquired 20,700 shares of the company valued at $1,087,345. 0.56% of the shares are held by insiders.

Institutional Equity Trading Texas Capital Bancshares

A number of large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of Texas Capital Bancshares by 188.2% in the first quarter. Goldman Sachs Group Inc. now owns 422,060 shares of the bank valued at $24,188,000 after buying an additional 275,631 shares last quarter. State Street Corp increased its position in shares of Texas Capital Bancshares by 5.1% in the first quarter. State Street Corp now owns 3,268,391 shares of the bank valued at $187,311,000 after buying an additional 158,815 shares last quarter. Northern Trust Corp increased its position in shares of Texas Capital Bancshares by 14.0% in the first quarter. Northern Trust Corp now owns 880,660 shares of the bank valued at $50,471,000 after buying an additional 108,346 shares last quarter. Keeley Teton Advisors LLC bought a new position in shares of Texas Capital Bancshares in the first quarter worth $2,050,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Texas Capital Bancshares by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 501,122 shares of the bank valued at $28,720,000 after buying an additional 25,847 shares last quarter. 97.77% of the shares are held by hedge funds and other institutional investors.

Texas Capital Bancshares Company Profile

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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.

Further reading

Earnings History for Texas Capital Bancshares (NASDAQ:TCBI)

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