Texas Capital Bancshares (NASDAQ:TCBI) Trading Up 5%
Texas Capital Bancshares Inc (NASDAQ:TCBI)’s stock price were up 5% during mid-day trading on Friday . The company traded as high as $55.68 and last traded at $55.45, approximately 452,600 shares were traded during trading. A decline of 32% from the average daily volume of 668,016 shares. The stock had previously closed at $52.81.
Several research firms recently issued reports on TCBI. Raymond James raised their target price on Texas Capital Bancshares from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. TheStreet raised Texas Capital Bancshares from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Zacks Investment Research cut Texas Capital Bancshares from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research note on Tuesday, June 11th. BidaskClub cut Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, ValuEngine raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $64.90.
The company has a debt-to-equity ratio of 1.39, a current ratio of 1.26 and a quick ratio of 1.21. The company has a market capitalization of $2.66 billion, a P/E ratio of 8.61, a PEG ratio of 0.85 and a beta of 1.79. The company has a 50 day moving average of $59.15 and a 200-day moving average of $59.79.
In other Texas Capital Bancshares news, Director Ian J. Turpin sold 3,977 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $60.59, for a total transaction of $240,966.43. Following the sale, the director now directly owns 4,632 shares of the company’s stock, valued at approximately $280,652.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO C Keith Cargill acquired 3,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of $58.83 per share, for a total transaction of $176,490.00. Following the completion of the transaction, the chief executive officer now owns 120,847 shares in the company, valued at approximately $7,109,429.01. The disclosure for this purchase can be found here. Insiders own 0.54% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Texas Capital Bancshares by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,598,074 shares of the bank’s stock valued at $282,182,000 after acquiring an additional 20,884 shares in the last quarter. Wasatch Advisors Inc. boosted its position in Texas Capital Bancshares by 84.5% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,948,897 shares of the bank’s stock valued at $119,604,000 after acquiring an additional 892,326 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in Texas Capital Bancshares by 20.8% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,251,651 shares of the bank’s stock valued at $68,328,000 after acquiring an additional 215,197 shares in the last quarter. Northern Trust Corp boosted its position in Texas Capital Bancshares by 5.1% during the 2nd quarter. Northern Trust Corp now owns 802,621 shares of the bank’s stock valued at $49,256,000 after acquiring an additional 39,261 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Texas Capital Bancshares by 129.6% during the 2nd quarter. Prudential Financial Inc. now owns 627,734 shares of the bank’s stock valued at $38,524,000 after acquiring an additional 354,390 shares in the last quarter. 94.65% of the stock is currently owned by institutional investors and hedge funds.
Texas Capital Bancshares Company Profile (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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