TD Cowen Upgrades Texas Capital Bancshares (NASDAQ:TCBI) to “Hold”

Texas Capital Bancshares (NASDAQ:TCBI) was upgraded by equities researchers at TD Cowen to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other brokerages also recently weighed in on TCBI. Cowen assumed coverage on Texas Capital Bancshares in a report on Wednesday. They issued a “hold” rating on the stock. Citigroup upped their target price on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a report on Friday, July 18th. Keefe, Bruyette & Woods upped their target price on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Wall Street Zen upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. Finally, JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and a consensus price target of $84.00.

Texas Capital Bancshares Price Performance

NASDAQ TCBI opened at $86.51 on Thursday. The stock’s 50-day moving average price is $85.27 and its two-hundred day moving average price is $77.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.96 billion, a PE ratio of 34.33, a PEG ratio of 0.71 and a beta of 0.69. Texas Capital Bancshares has a 1 year low of $59.37 and a 1 year high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.35. The company had revenue of $307.46 million for the quarter, compared to the consensus estimate of $298.90 million. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.During the same quarter in the prior year, the company earned $0.80 EPS. On average, analysts predict that Texas Capital Bancshares will post 5.84 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in shares of Texas Capital Bancshares by 29.7% during the second quarter. UMB Bank n.a. now owns 756 shares of the bank’s stock worth $60,000 after buying an additional 173 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Texas Capital Bancshares by 1.9% in the first quarter. Envestnet Asset Management Inc. now owns 10,838 shares of the bank’s stock valued at $810,000 after purchasing an additional 207 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Texas Capital Bancshares by 3.7% in the second quarter. Teacher Retirement System of Texas now owns 7,005 shares of the bank’s stock valued at $556,000 after purchasing an additional 249 shares in the last quarter. Moody National Bank Trust Division raised its stake in shares of Texas Capital Bancshares by 1.5% in the first quarter. Moody National Bank Trust Division now owns 17,626 shares of the bank’s stock valued at $1,317,000 after purchasing an additional 255 shares in the last quarter. Finally, Tectonic Advisors LLC raised its stake in shares of Texas Capital Bancshares by 0.9% in the second quarter. Tectonic Advisors LLC now owns 32,668 shares of the bank’s stock valued at $2,594,000 after purchasing an additional 293 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.