Texas Capital Bancshares (NASDAQ:TCBI) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) from a hold rating to a sell rating in a report released on Monday morning.

A number of other equities research analysts have also weighed in on TCBI. Truist Financial boosted their target price on Texas Capital Bancshares from $68.00 to $80.00 and gave the company a buy rating in a research note on Friday, January 20th. JPMorgan Chase & Co. increased their price objective on Texas Capital Bancshares from $50.00 to $55.00 and gave the company an underweight rating in a research note on Monday, January 23rd. TheStreet raised shares of Texas Capital Bancshares from a c+ rating to a b rating in a research note on Wednesday, January 18th. Finally, DA Davidson reissued a neutral rating on shares of Texas Capital Bancshares in a research report on Wednesday, December 21st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Texas Capital Bancshares has an average rating of Hold and an average target price of $62.89.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $51.40 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.48 billion, a PE ratio of 8.22, a PEG ratio of 1.90 and a beta of 1.31. The company’s fifty day moving average is $64.14 and its 200 day moving average is $61.11. Texas Capital Bancshares has a 52 week low of $45.81 and a 52 week high of $69.26.

Insiders Place Their Bets

In related news, Director Robert W. Stallings bought 3,000 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were purchased at an average price of $21.94 per share, with a total value of $65,820.00. Following the purchase, the director now owns 30,000 shares of the company’s stock, valued at approximately $658,200. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Robert W. Stallings bought 3,000 shares of the firm’s stock in a transaction dated Thursday, February 16th. The stock was purchased at an average price of $21.94 per share, with a total value of $65,820.00. Following the transaction, the director now owns 30,000 shares of the company’s stock, valued at $658,200. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert W. Stallings purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The shares were purchased at an average price of $21.18 per share, for a total transaction of $211,800.00. Following the completion of the transaction, the director now directly owns 45,000 shares of the company’s stock, valued at $953,100. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 19,888 shares of company stock worth $430,333. 0.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in Texas Capital Bancshares by 1,083.3% during the fourth quarter. Quadrant Capital Group LLC now owns 426 shares of the bank’s stock worth $26,000 after acquiring an additional 390 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Texas Capital Bancshares in the 3rd quarter worth approximately $35,000. Eagle Bay Advisors LLC grew its stake 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 buying an additional 286 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Texas Capital Bancshares by 25.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,049 shares of the bank’s stock valued at $63,000 after buying an additional 210 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Texas Capital Bancshares by 60.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,044 shares of the bank’s stock valued at $120,000 after buying an additional 767 shares during the last quarter. 96.91% of the stock is currently owned by institutional investors.

About Texas Capital Bancshares

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Texas Capital Bancshares, Inc is the holding company of Texas Capital Bank, which engages in the provision of financial services and customized solutions to businesses, entrepreneurs, and individual customers. The company was founded by George F. Jones, Jr. and Joseph M. Grant in November 1996 and is headquartered in Dallas, TX.