Insider Selling: Frederick B. Hegi, Jr. Unloads 15,000 Shares of Texas Capital Bancshares Stock (TCBI)
Texas Capital Bancshares (NASDAQ:TCBI) Director Frederick B. Hegi, Jr. sold 15,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $55.13, for a total value of $826,950.00. Following the completion of the sale, the director now directly owns 22,559 shares in the company, valued at approximately $1,243,678. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
TCBI has been the subject of a number of recent research reports. Analysts at Zacks reiterated an “underperform” rating on shares of Texas Capital Bancshares in a research note on Monday, August 4th. They now have a $46.00 price target on the stock. Separately, analysts at FBR Capital Markets cut their price target on shares of Texas Capital Bancshares from $67.00 to $58.00 in a research note on Monday, July 28th. They now have a “market perform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Texas Capital Bancshares in a research note on Thursday, July 24th. They now have a $61.00 price target on the stock, down previously from $63.00. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $61.23.
Shares of Texas Capital Bancshares (NASDAQ:TCBI) traded down 0.78% on Thursday, hitting $54.80. 222,543 shares of the company’s stock traded hands. Texas Capital Bancshares has a one year low of $43.54 and a one year high of $67.08. The stock has a 50-day moving average of $52.6 and a 200-day moving average of $56.56. The company has a market cap of $2.362 billion and a price-to-earnings ratio of 20.40.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.71 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.69 by $0.02. During the same quarter last year, the company posted $0.52 earnings per share. Analysts expect that Texas Capital Bancshares will post $2.80 EPS for the current fiscal year.
Texas Capital Bancshares, Inc, is a financial holding company. The Company is the parent of Texas Capital Bank, National Association (NASDAQ:TCBI).
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