Texas Capital Bancshares (NASDAQ:TCBI) Upgraded by StockNews.com to Hold Rating

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

Several other equities research analysts have also recently weighed in on the stock. Citigroup reiterated a “sell” rating and set a $60.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. DA Davidson raised their price target on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Truist Financial raised their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a report on Tuesday, September 17th. Finally, Piper Sandler cut shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $77.00 to $82.00 in a report on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.00.

Texas Capital Bancshares Trading Up 1.6 %

TCBI opened at $77.18 on Wednesday. Texas Capital Bancshares has a twelve month low of $53.16 and a twelve month high of $82.25. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $72.39 and a 200-day moving average of $65.06. The stock has a market cap of $3.57 billion, a PE ratio of 428.78, a price-to-earnings-growth ratio of 0.73 and a beta of 1.12.

Insider Activity at Texas Capital Bancshares

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

Institutional Trading of Texas Capital Bancshares

Institutional investors have recently modified their holdings of the business. First Hawaiian Bank bought a new stake in Texas Capital Bancshares during the 2nd quarter worth approximately $675,000. AQR Capital Management LLC increased its holdings in Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after acquiring an additional 506,094 shares during the period. BNP Paribas Financial Markets increased its holdings in Texas Capital Bancshares by 73.0% during the 1st quarter. BNP Paribas Financial Markets now owns 25,489 shares of the bank’s stock worth $1,569,000 after acquiring an additional 10,752 shares during the period. TD Asset Management Inc increased its holdings in Texas Capital Bancshares by 26.6% during the 2nd quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock worth $2,096,000 after acquiring an additional 7,200 shares during the period. Finally, Hodges Capital Management Inc. increased its holdings in Texas Capital Bancshares by 22.0% during the 2nd quarter. Hodges Capital Management Inc. now owns 179,098 shares of the bank’s stock worth $10,950,000 after acquiring an additional 32,248 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

About Texas Capital Bancshares

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.