James H. Browning buys 1,000 shares of Texas Capital Bancshares, Inc. (NASDAQ: TCBI)
Texas Capital Bancshares, Inc. (NASDAQ: TCBI) Director James H. Browning bought 1,000 shares of the company in a trade that took place on Monday, October 25. The stock was purchased at an average price of $ 59.56 per share, for a total value of $ 59,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC website.
NASDAQ TCBI shares traded down $ 0.90 during trading hours on Monday, reaching $ 59.64. 17,351 shares of the stock were traded, for an average volume of 654,642. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt ratio of 1.04. The company has a market cap of $ 3.02 billion, a PE ratio of 12.46 and a beta of 1.85. The company has a fifty-day moving average price of $ 61.58 and a 200-day moving average price of $ 64.47. Texas Capital Bancshares, Inc. has a 12-month low of $ 40.69 and a 12-month high of $ 93.26.
Texas Capital Bancshares (NASDAQ: TCBI) last released its quarterly earnings data on Tuesday, October 19. The bank reported EPS of $ 0.76 for the quarter, missing the consensus estimate of $ 1.09 ($ 0.33). The company posted revenue of $ 215.30 million in the quarter, compared to analysts’ expectations of $ 224.90 million. Texas Capital Bancshares had a net margin of 23.37% and a return on equity of 9.64%. The company’s revenue was down 19.6% year-on-year. During the same period last year, the company made a profit of $ 1.08 per share. As a group, stock analysts predict that Texas Capital Bancshares, Inc. will post earnings per share of 4.84 for the current fiscal year.
A number of large investors have recently bought and sold shares in the company. BlackRock Inc. increased its position in Texas Capital Bancshares shares by 1.7% in the second quarter. BlackRock Inc. now owns 6,322,306 shares of the bank valued at $ 401,404,000 after purchasing an additional 104,580 shares during the last quarter. Vanguard Group Inc. increased its position in Texas Capital Bancshares by 1.5% in the second quarter. Vanguard Group Inc. now owns 4,881,889 shares of the bank valued at $ 309,951,000 after purchasing an additional 72,580 shares in the last quarter. State Street Corp increased its stake in Texas Capital Bancshares by 25.2% during the second quarter. State Street Corp now owns 3,429,450 shares of the bank valued at $ 217,736,000 after purchasing an additional 690,845 shares during the period. Alliancebernstein LP increased its stake in Texas Capital Bancshares by 11.5% during the second quarter. Alliancebernstein LP now owns 2,811,917 shares of the bank valued at $ 178,529,000 after purchasing an additional 289,559 shares during the period. Finally, Morgan Stanley increased its stake in the shares of Texas Capital Bancshares by 28.9% in the first quarter. Morgan Stanley now owns 2,512,197 shares of the bank valued at $ 178,165,000 after purchasing an additional 563,915 shares during the period. Institutional investors hold 95.81% of the shares of the company.
TCBI has been the subject of several analyst reports. Hovde Group downgraded Texas Capital Bancshares shares from an “outperformance” rating to a “market performance” rating in a research report released Thursday, September 2. Janney Montgomery Scott downgraded Texas Capital Bancshares shares from a “buy” rating to a “neutral” rating in a research note on Thursday, September 2. Raymond James reduced his target price on Texas Capital Bancshares shares from $ 78.00 to $ 75 and established an “outperformance” rating for the company in a research note on Thursday, September 2. They noted that the move was an appraisal call. Stephens lowered his target price on Texas Capital Bancshares shares from $ 77.00 to $ 75 and set an “overweight” rating for the company in a research note on Thursday, July 22. Finally, Piper Sandler upgraded Texas Capital Bancshares shares from “neutral” to “overweight” and set a target price of $ 75 for the stock in a report released Thursday, July 22. One research analyst rated the stock with a sell rating, five assigned a conservation rating, and six assigned a buy rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus price target of $ 75.30.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc. is the holding company of Texas Capital Bank NA. It provides commercial banking services to clients in Texas and focuses on mid-market business ventures and successful professionals and entrepreneurs. The firm loan portfolio includes commercial loans, real estate loans, construction loans and letters of credit; business deposit products include commercial chequing accounts, safe deposit boxes, concentrating cash accounts and other cash management services, including an online system; trust and wealth management services include investment management, personal trust and estate services, custodial services, retirement accounts and related services.
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