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

Texas Capital Bancshares (NASDAQ:TCBIGet Rating) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

A number of other brokerages have also recently weighed in on TCBI. TheStreet upgraded shares of Texas Capital Bancshares from a “c+” rating to a “b” rating in a research note on Wednesday. Truist Financial raised their target price on Texas Capital Bancshares from $68.00 to $80.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada lowered their price target on Texas Capital Bancshares from $65.00 to $62.00 and set a “sector perform” rating on the stock in a report on Friday, October 21st. Wedbush restated a “neutral” rating and set a $60.00 target price on shares of Texas Capital Bancshares in a research report on Wednesday, September 28th. Finally, DA Davidson restated a “neutral” rating on shares of Texas Capital Bancshares in a research report on Wednesday, December 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus target price of $63.88.

Texas Capital Bancshares Trading Up 0.9 %

Shares of NASDAQ TCBI opened at $63.59 on Friday. The stock has a market capitalization of $3.17 billion, a PE ratio of 19.81, a PEG ratio of 1.84 and a beta of 1.31. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $58.88 and a 200-day simple moving average of $59.44. Texas Capital Bancshares has a twelve month low of $48.79 and a twelve month high of $71.60.

Texas Capital Bancshares (NASDAQ:TCBIGet Rating) last released its earnings results on Wednesday, October 19th. The bank reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.29). Texas Capital Bancshares had a return on equity of 6.56% and a net margin of 16.45%. The firm had revenue of $264.41 million for the quarter, compared to analysts’ expectations of $258.56 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. On average, equities analysts forecast that Texas Capital Bancshares will post 3.12 earnings per share for the current year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 4,175 shares of the firm’s stock in a transaction dated Monday, October 24th. The stock was bought at an average price of $56.55 per share, with a total value of $236,096.25. Following the completion of the purchase, the director now owns 172,000 shares in the company, valued at approximately $9,726,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 4,400 shares of the stock in a transaction dated Monday, November 28th. The shares were acquired at an average price of $20.86 per share, for a total transaction of $91,784.00. Following the completion of the acquisition, the director now owns 13,400 shares of the company’s stock, valued at approximately $279,524. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Stallings acquired 4,175 shares of the stock in a transaction that occurred on Monday, October 24th. The shares were bought at an average cost of $56.55 per share, for a total transaction of $236,096.25. Following the completion of the transaction, the director now directly owns 172,000 shares of the company’s stock, valued at approximately $9,726,600. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 14,101 shares of company stock valued at $602,612. 0.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TCBI. Amalgamated Bank raised its position in shares of Texas Capital Bancshares by 0.7% in the third quarter. Amalgamated Bank now owns 33,098 shares of the bank’s stock valued at $1,954,000 after purchasing an additional 222 shares during the period. Credit Suisse AG raised its position in shares of Texas Capital Bancshares by 0.7% during the third quarter. Credit Suisse AG now owns 38,447 shares of the bank’s stock valued at $2,270,000 after buying an additional 285 shares during the last quarter. Eagle Bay Advisors LLC lifted its position in shares of Texas Capital Bancshares by 65.9% in the 2nd quarter. Eagle Bay Advisors LLC now owns 720 shares of the bank’s stock worth $38,000 after acquiring an additional 286 shares during the period. Tower Research Capital LLC TRC lifted its position in Texas Capital Bancshares by 4.5% in the third quarter. Tower Research Capital LLC TRC now owns 7,187 shares of the bank’s stock worth $424,000 after purchasing an additional 312 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Texas Capital Bancshares by 2.7% during the 2nd quarter. Victory Capital Management Inc. now owns 11,831 shares of the bank’s stock valued at $623,000 after acquiring an additional 314 shares in the last quarter. Institutional investors and hedge funds own 96.91% of the company’s stock.

About Texas Capital Bancshares

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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, and wealth management services.

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