Texas Capital Bancshares (TXSE:TXCP) Hits New 1-Year Low – What’s Next?

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

Analysts Set New Price Targets

Several brokerages have recently commented on TXCP. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Capital Bancshares in a report on Friday, October 2nd. Jefferies Financial Group started coverage on Texas Capital Bancshares in a research note on Friday. They issued a “hold” rating on the stock. Citigroup restated a “neutral” rating on shares of Texas Capital Bancshares in a report on Tuesday, October 27th. TD Cowen boosted their price objective on Texas Capital Bancshares from $100.00 to $104.00 and gave the stock a “hold” rating in a report on Friday, October 23rd. Finally, Piper Sandler upped their price objective on shares of Texas Capital Bancshares from $100.00 to $101.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and an average price target of $106.00.

Texas Capital Bancshares Price Performance

The business has a fifty day moving average price of $96.64 and a two-hundred day moving average price of $98.88. The firm has a market cap of $4.24 billion, a PE ratio of 12.83, a P/E/G ratio of 1.03 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.99.

Texas Capital Bancshares (TXSE:TXCP) last posted its quarterly earnings data on Wednesday, October 21st. The bank reported $2.35 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $356.60 million during the quarter, compared to analysts’ expectations of $339.89 million. On average, analysts anticipate that Texas Capital Bancshares, Inc. will post 7.72 EPS for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.20 per share. 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 10.27%.

Institutional Trading of Texas Capital Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new position in Texas Capital Bancshares during the 3rd quarter worth $26,000. Ameritas Advisory Services LLC bought a new position in Texas Capital Bancshares in the 2nd quarter valued at $34,000. FNY Investment Advisers LLC acquired a new stake in shares of Texas Capital Bancshares in the 2nd quarter valued at $51,000. Farther Finance Advisors LLC increased its stake in shares of Texas Capital Bancshares by 29.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 583 shares of the bank’s stock valued at $54,000 after buying an additional 134 shares during the period. Finally, Westpac Banking Corp acquired a new stake in shares of Texas Capital Bancshares in the 1st quarter valued at $58,000. 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.