Texas Capital Bancshares Inc (NASDAQ:TCBI) insider Vince A. Ackerson acquired 2,000 shares of the company’s 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 purchase, the insider now directly owns 28,485 shares of the company’s stock, valued at approximately $1,908,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of TCBI stock opened at $66.83 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.29 and a quick ratio of 1.26. Texas Capital Bancshares Inc has a 12-month low of $66.50 and a 12-month high of $103.05. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.98 and a beta of 1.77.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, October 17th. The bank reported $1.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.07). Texas Capital Bancshares had a return on equity of 13.36% and a net margin of 23.10%. The firm had revenue of $257.69 million for the quarter, compared to the consensus estimate of $257.14 million. During the same period last year, the firm earned $1.12 EPS. Equities research analysts anticipate that Texas Capital Bancshares Inc will post 6.08 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on TCBI shares. Zacks Investment Research raised Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research note on Monday, September 3rd. BidaskClub lowered Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 15th. ValuEngine lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Royal Bank of Canada dropped their price target on Texas Capital Bancshares to $90.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, Barclays dropped their price target on Texas Capital Bancshares from $108.00 to $99.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 3rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus price target of $99.47.
Hedge funds have recently modified their holdings of the business. Oakbrook Investments LLC purchased a new position in shares of Texas Capital Bancshares in the third quarter worth about $442,000. State of Alaska Department of Revenue increased its holdings in shares of Texas Capital Bancshares by 49.9% in the third quarter. State of Alaska Department of Revenue now owns 5,741 shares of the bank’s stock worth $473,000 after buying an additional 1,911 shares during the period. Cerebellum GP LLC purchased a new position in shares of Texas Capital Bancshares in the third quarter worth about $172,000. United Services Automobile Association increased its holdings in shares of Texas Capital Bancshares by 1.4% in the second quarter. United Services Automobile Association now owns 216,823 shares of the bank’s stock worth $19,839,000 after buying an additional 3,020 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in shares of Texas Capital Bancshares by 3,729.3% in the second quarter. WINTON GROUP Ltd now owns 106,378 shares of the bank’s stock worth $9,734,000 after buying an additional 103,600 shares during the period.
About Texas Capital Bancshares
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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