Texas Capital Bancshares (TXSE:TXCP) Reaches New 1-Year Low – Time to Sell?

Texas Capital Bancshares, Inc. (TXSE:TXCP) reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $96.74 and last traded at $99.77, with a volume of 47,951 shares. The stock had previously closed at $99.89.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TXCP shares. DA Davidson set a $105.00 price target on Texas Capital Bancshares in a research report on Thursday, October 22nd. Wall Street Zen raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. TD Cowen boosted their target price on Texas Capital Bancshares from $100.00 to $104.00 and gave the stock a “hold” rating in a research note on Friday, October 23rd. JPMorgan Chase & Co. reduced their target price on Texas Capital Bancshares from $110.00 to $100.00 and set an “underweight” rating on the stock in a research report on Thursday, October 1st. Finally, Raymond James Financial reduced their target price on Texas Capital Bancshares from $115.00 to $108.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $106.00.

Texas Capital Bancshares Stock Up 0.2%

The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.03 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50 day moving average is $96.60 and its 200 day moving average is $98.87.

Texas Capital Bancshares (TXSE:TXCP) last issued its quarterly earnings results on Wednesday, October 21st. The bank reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.39. Texas Capital Bancshares had a net margin of 17.74% and a return on equity of 11.04%. The business had revenue of $356.60 million for the quarter, compared to analyst estimates of $339.89 million. Sell-side analysts anticipate that Texas Capital Bancshares, Inc. will post 7.72 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 1st. Texas Capital Bancshares’s dividend payout ratio is presently 10.27%.

Institutional Trading of Texas Capital Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of Texas Capital Bancshares by 29.8% in the third quarter. Farther Finance Advisors LLC now owns 583 shares of the bank’s stock valued at $54,000 after purchasing an additional 134 shares during the period. Gabelli Funds LLC raised its stake in shares of Texas Capital Bancshares by 1.0% in the third quarter. Gabelli Funds LLC now owns 15,600 shares of the bank’s stock worth $1,451,000 after purchasing an additional 150 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Texas Capital Bancshares by 19.5% during the third quarter. Sterling Capital Management LLC now owns 937 shares of the bank’s stock worth $87,000 after purchasing an additional 153 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Texas Capital Bancshares by 14.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $143,000 after purchasing an additional 189 shares during the period. Finally, Arizona State Retirement System boosted its position in Texas Capital Bancshares by 1.8% in the second quarter. Arizona State Retirement System now owns 12,200 shares of the bank’s stock valued at $1,260,000 after buying an additional 212 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc. is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank primarily serves commercial and middle-market businesses, entrepreneurs, professionals, high-net-worth individuals and institutions. Texas Capital Bank offers commercial and private banking services, including business and personal deposit accounts, commercial and real estate lending, treasury management, wealth management and related financial solutions.