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

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

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. DA Davidson reduced their target price on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Hovde Group boosted their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Barclays boosted their target price on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Finally, Wedbush reissued a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.13.

Texas Capital Bancshares Price Performance

TCBI opened at $78.95 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares has a 52-week low of $54.68 and a 52-week high of $91.80. The company has a 50 day moving average of $81.05 and a two-hundred day moving average of $74.90. The company has a market cap 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.

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

Insider Activity at Texas Capital Bancshares

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

Institutional Trading of Texas Capital Bancshares

Several institutional investors have recently added to or reduced their stakes in TCBI. Millennium Management LLC increased its stake in 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 increased its stake in Texas Capital Bancshares by 15.4% during the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after purchasing an additional 150,301 shares during the last quarter. Jane Street Group LLC grew its position in shares of Texas Capital Bancshares by 107.2% during the third quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock worth $9,481,000 after acquiring an additional 68,632 shares during the last quarter. Hodges Capital Management Inc. grew 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. grew its position 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 worth $5,010,000 after acquiring an additional 53,669 shares during the last quarter. 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.