Texas Capital Bancshares (NASDAQ:TCBI) Now Covered by UBS Group

UBS Group started coverage on shares of Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) in a report released on Wednesday, The Fly reports. The brokerage set a “sell” rating and a $51.00 price target on the bank’s stock. UBS Group’s target price indicates a potential downside of 11.95% from the stock’s current price.

Several other research firms have also commented on TCBI. StockNews.com lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Monday. DA Davidson reiterated a “neutral” rating on shares of Texas Capital Bancshares in a research note on Wednesday, December 21st. Truist Financial boosted their price objective on Texas Capital Bancshares from $68.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, January 20th. JPMorgan Chase & Co. boosted their price objective on Texas Capital Bancshares from $50.00 to $55.00 and gave the stock an “underweight” rating in a research note on Monday, January 23rd. Finally, TheStreet upgraded Texas Capital Bancshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 18th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $61.70.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock opened at $57.92 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.34. Texas Capital Bancshares has a twelve month low of $45.81 and a twelve month high of $69.26. The business has a 50-day moving average price of $63.95 and a 200 day moving average price of $61.01. The firm has a market cap of $2.80 billion, a PE ratio of 9.27, a P/E/G ratio of 1.60 and a beta of 1.31.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 3,000 shares of the business’s stock in a transaction dated Thursday, February 16th. The stock was acquired at an average price of $21.94 per share, for a total transaction of $65,820.00. Following the acquisition, the director now directly owns 30,000 shares of the company’s stock, valued at $658,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Robert W. Stallings acquired 3,000 shares of the stock in a transaction that occurred on Thursday, February 16th. The stock was purchased at an average price of $21.94 per share, with a total value of $65,820.00. Following the transaction, the director now owns 30,000 shares of the company’s stock, valued at approximately $658,200. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Stallings acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were bought at an average cost of $21.18 per share, with a total value of $211,800.00. Following the transaction, the director now directly owns 45,000 shares in the company, valued at approximately $953,100. The disclosure for this purchase can be found here. Insiders bought 19,888 shares of company stock worth $430,333 in the last 90 days. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCBI. Raymond James Financial Services Advisors Inc. purchased a new position in Texas Capital Bancshares in the 1st quarter valued at approximately $261,000. HighTower Advisors LLC boosted its position in Texas Capital Bancshares by 3.7% in the 1st quarter. HighTower Advisors LLC now owns 9,383 shares of the bank’s stock valued at $537,000 after buying an additional 337 shares during the period. Natixis Advisors L.P. boosted its position in Texas Capital Bancshares by 3.1% in the 1st quarter. Natixis Advisors L.P. now owns 10,722 shares of the bank’s stock valued at $614,000 after buying an additional 326 shares during the period. MetLife Investment Management LLC boosted its position in Texas Capital Bancshares by 39.3% in the 1st quarter. MetLife Investment Management LLC now owns 58,686 shares of the bank’s stock valued at $3,363,000 after buying an additional 16,567 shares during the period. Finally, Rhumbline Advisers boosted its position in Texas Capital Bancshares by 0.8% in the 1st quarter. Rhumbline Advisers now owns 163,297 shares of the bank’s stock valued at $9,359,000 after buying an additional 1,327 shares during the period. Hedge funds and other institutional investors own 96.91% of the company’s stock.

About Texas Capital Bancshares

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Texas Capital Bancshares, Inc is the holding company of Texas Capital Bank, which engages in the provision of financial services and customized solutions to businesses, entrepreneurs, and individual customers. The company was founded by George F. Jones, Jr. and Joseph M. Grant in November 1996 and is headquartered in Dallas, TX.