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

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 on Wednesday.

A number of other brokerages have also commented on TCBI. Barclays increased their price target on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their price objective on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Hovde Group upped their price objective on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. DA Davidson lifted their target price on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the company from $77.00 to $82.00 in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus target price of $74.00.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $77.18 on Wednesday. The company’s fifty day moving average price is $72.39 and its 200-day moving average price is $65.06. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 428.78, a PEG ratio of 0.73 and a beta of 1.12. Texas Capital Bancshares has a one year low of $53.16 and a one year high of $82.25. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were bought at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the transaction, the director now directly owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.53% of the stock is currently owned by company insiders.

Institutional Trading of Texas Capital Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new position in Texas Capital Bancshares in the 2nd quarter worth approximately $26,000. Blue Trust Inc. lifted its holdings in shares of Texas Capital Bancshares by 89.9% during the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after purchasing an additional 169 shares in the last quarter. CWM LLC increased its holdings in Texas Capital Bancshares by 40.8% in the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after buying an additional 275 shares in the last quarter. Headlands Technologies LLC raised its position in Texas Capital Bancshares by 80.4% in the 1st quarter. Headlands Technologies LLC now owns 2,910 shares of the bank’s stock worth $179,000 after buying an additional 1,297 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in Texas Capital Bancshares during the 3rd quarter valued at about $201,000. Hedge funds and other institutional investors 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.