Texas Capital Bancshares (NASDAQ:TCBI) Shares Down 3% – Here’s What Happened

Texas Capital Bancshares, Inc. (NASDAQ:TCBI)’s share price fell 3% during trading on Friday . The company traded as low as $77.87 and last traded at $78.14. 155,670 shares were traded during mid-day trading, a decline of 63% from the average session volume of 422,480 shares. The stock had previously closed at $80.54.

Analyst Ratings Changes

Several brokerages have recently commented on TCBI. Barclays increased their target price on Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a report on Friday. Jefferies Financial Group dropped their target price on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $77.00 to $82.00 in a research report on Friday. Truist Financial raised their price target on shares of Texas Capital Bancshares from $70.00 to $80.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, DA Davidson upped their price objective on Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.69.

Texas Capital Bancshares Price Performance

The company’s 50 day simple moving average is $68.75 and its 200 day simple moving average is $63.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market cap of $3.66 billion, a P/E ratio of 23.56, a P/E/G ratio of 0.98 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The firm had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same quarter in the prior year, the company earned $1.33 EPS. As a group, equities analysts forecast that Texas Capital Bancshares, Inc. will post 3.5 earnings per share for the current year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, July 29th. The stock was bought at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the acquisition, the director now directly owns 31,294 shares of the company’s stock, valued at $640,275.24. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert W. Stallings acquired 10,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, July 29th. The stock was bought at an average cost of $20.46 per share, with a total value of $204,600.00. Following the completion of the transaction, the director now directly owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Stallings bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $400,000. The trade was a 300.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 43,500 shares of company stock valued at $876,400 over the last 90 days. 0.99% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in Texas Capital Bancshares by 42.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after acquiring an additional 161,643 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Texas Capital Bancshares by 97.9% during the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after purchasing an additional 547,336 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Texas Capital Bancshares by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after buying an additional 68,211 shares during the last quarter. CWM LLC grew its stake in shares of Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after buying an additional 546 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Texas Capital Bancshares in the first quarter valued at $50,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.