Texas Capital Bancshares (NASDAQ:TCBI) Upgraded at StockNews.com

StockNews.com upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

A number of other research firms have also weighed in on TCBI. Royal Bank of Canada boosted their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 target price (down previously from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday. Barclays increased their price objective on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $77.00 to $82.00 in a research report on Friday, October 18th. Finally, DA Davidson dropped their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus target price of $79.13.

Texas Capital Bancshares Stock Down 0.4 %

Shares of Texas Capital Bancshares stock opened at $78.95 on Friday. The stock has a 50-day simple moving average of $81.05 and a 200-day simple moving average of $74.87. Texas Capital Bancshares has a 52-week low of $54.68 and a 52-week high of $91.80. The firm has a market cap of $3.65 billion, a price-to-earnings 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 current ratio of 1.00 and a quick ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that Texas Capital Bancshares will post 5.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 2,006 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were bought at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the completion of the acquisition, the director now owns 182,899 shares of the company’s stock, valued at approximately $3,839,050.01. This trade represents a 1.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 8,402 shares of company stock worth $213,837 over the last ninety days. Corporate insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in shares of Texas Capital Bancshares by 146.7% during the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after purchasing an additional 221,454 shares during the last quarter. Wellington Management Group LLP boosted its position in Texas Capital Bancshares by 15.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after buying an additional 150,301 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Texas Capital Bancshares by 107.2% in the 3rd quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock valued at $9,481,000 after buying an additional 68,632 shares during the period. Hodges Capital Management Inc. raised its position in shares of Texas Capital Bancshares by 32.5% during the fourth quarter. Hodges Capital Management Inc. now owns 252,973 shares of the bank’s stock worth $19,782,000 after acquiring an additional 62,030 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Texas Capital Bancshares by 326.6% during the third quarter. Victory Capital Management Inc. now owns 70,103 shares of the bank’s stock valued at $5,010,000 after acquiring an additional 53,669 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

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.