Texas Capital Bancshares (TCBI) Reaches New 12-Month Low at $56.27

Texas Capital Bancshares Inc (NASDAQ:TCBI) reached a new 52-week low on Tuesday . The company traded as low as $56.27 and last traded at $56.84, with a volume of 39654 shares trading hands. The stock had previously closed at $60.49.

A number of research analysts recently issued reports on TCBI shares. Zacks Investment Research raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Monday, September 3rd. BidaskClub raised shares of Texas Capital Bancshares from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 6th. ValuEngine cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Barclays decreased their price objective on shares of Texas Capital Bancshares from $108.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 3rd. Finally, Wedbush set a $94.00 price objective on shares of Texas Capital Bancshares and gave the company a “buy” rating in a research note on Thursday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $96.82.

The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 0.96 and a beta of 1.83. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.21 and a current ratio of 1.29.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, October 17th. The bank reported $1.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.07). The company had revenue of $257.69 million for the quarter, compared to analysts’ expectations of $257.14 million. Texas Capital Bancshares had a net margin of 23.10% and a return on equity of 13.36%. During the same quarter last year, the business posted $1.12 EPS. As a group, equities analysts anticipate that Texas Capital Bancshares Inc will post 6.01 EPS for the current year.

In other Texas Capital Bancshares news, CEO C Keith Cargill purchased 3,000 shares of the stock in a transaction that occurred on Friday, October 19th. The stock was bought at an average cost of $67.59 per share, with a total value of $202,770.00. Following the transaction, the chief executive officer now directly owns 90,880 shares in the company, valued at approximately $6,142,579.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vince A. Ackerson purchased 2,000 shares of the stock in a transaction that occurred on Friday, October 19th. The shares were acquired at an average cost of $67.00 per share, with a total value of $134,000.00. Following the completion of the transaction, the insider now owns 28,485 shares in the company, valued at $1,908,495. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new position in Texas Capital Bancshares during the 2nd quarter valued at about $119,000. FMR LLC purchased a new position in Texas Capital Bancshares during the 3rd quarter valued at about $129,000. Tower Research Capital LLC TRC lifted its position in Texas Capital Bancshares by 196.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,013 shares of the bank’s stock valued at $166,000 after acquiring an additional 1,334 shares during the period. Cerebellum GP LLC purchased a new position in Texas Capital Bancshares during the 3rd quarter valued at about $172,000. Finally, GFS Advisors LLC purchased a new position in Texas Capital Bancshares during the 3rd quarter valued at about $215,000.

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About Texas Capital Bancshares (NASDAQ:TCBI)

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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