Texas Capital Bancshares (NASDAQ:TCBI) Raised to “Hold” at StockNews.com

Texas Capital Bancshares (NASDAQ:TCBI) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also issued reports on TCBI. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and increased their target price for the company from $77.00 to $82.00 in a research report on Friday, October 18th. Stephens decreased their target price on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Hovde Group increased their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Truist Financial upped their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $79.13.

Texas Capital Bancshares Stock Down 0.4 %

Texas Capital Bancshares stock opened at $78.95 on Friday. The company has a 50-day simple moving average of $81.05 and a 200-day simple moving average of $74.90. The firm has a market capitalization of $3.65 billion, a P/E ratio of 61.68, a P/E/G ratio of 0.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.00. Texas Capital Bancshares has a one year low of $54.68 and a one year high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. As a group, equities analysts expect that Texas Capital Bancshares will post 5.82 earnings per share for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 5,670 shares of Texas Capital Bancshares stock in a transaction dated Friday, January 24th. The stock was acquired at an average cost of $27.60 per share, with a total value of $156,492.00. Following the completion of the transaction, the director now directly owns 180,893 shares of the company’s stock, valued at $4,992,646.80. This trade represents a 3.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders bought 8,402 shares of company stock valued at $213,837. 0.99% of the stock is currently owned by corporate insiders.

Institutional Trading of Texas Capital Bancshares

A number of hedge funds have recently made changes to their positions in TCBI. Blue Trust Inc. lifted its position in shares of Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after purchasing an additional 169 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Texas Capital Bancshares in the third quarter worth approximately $31,000. Venturi Wealth Management LLC purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter worth approximately $37,000. R Squared Ltd purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter worth approximately $41,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Texas Capital Bancshares in the third quarter worth approximately $71,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.