Texas Capital Bancshares (NASDAQ:TCBI) Shares Cross Above 200 Day Moving Average – Here’s Why

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $99.12 and traded as high as $107.78. Texas Capital Bancshares shares last traded at $107.74, with a volume of 638,005 shares trading hands.

Analysts Set New Price Targets

TCBI has been the subject of a number of research analyst reports. Citigroup upgraded shares of Texas Capital Bancshares from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $96.00 to $105.00 in a research note on Tuesday, June 30th. Wall Street Zen downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Piper Sandler raised their target price on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. JPMorgan Chase & Co. lifted their target price on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Finally, Zacks Research lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.17.

Texas Capital Bancshares Price Performance

The firm has a market capitalization of $4.71 billion, a PE ratio of 14.48, a PEG ratio of 1.49 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day simple moving average of $100.75 and a 200-day simple moving average of $99.12.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.The business had revenue of $323.99 million during the quarter, compared to the consensus estimate of $318.10 million. During the same period in the previous year, the company posted $0.92 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts forecast that Texas Capital Bancshares, Inc. will post 7.56 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 1st. Texas Capital Bancshares’s payout ratio is 10.75%.

Insider Activity at Texas Capital Bancshares

In other news, insider Anna M. Alvarado sold 3,500 shares of Texas Capital Bancshares stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total transaction of $353,325.00. Following the transaction, the insider owned 23,810 shares in the company, valued at $2,403,619.50. This trade represents a 12.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction on Monday, June 8th. The stock was sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the transaction, the chief executive officer owned 167,635 shares in the company, valued at $16,968,014.70. This represents a 22.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 102,100 shares of company stock valued at $10,366,023 over the last 90 days. 1.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Danske Bank A S bought a new position in Texas Capital Bancshares in the 3rd quarter worth $25,000. Farther Finance Advisors LLC grew its holdings in Texas Capital Bancshares by 1,381.8% during the fourth quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock valued at $30,000 after purchasing an additional 304 shares during the period. Root Financial Partners LLC increased its position in Texas Capital Bancshares by 85.2% in the first quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock worth $31,000 after buying an additional 150 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Texas Capital Bancshares in the third quarter worth about $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Texas Capital Bancshares by 169.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock worth $35,000 after buying an additional 246 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.