Texas Capital Bancshares (NASDAQ:TCBI) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other analysts also recently issued reports on the stock. Piper Sandler upped their price target on shares of Texas Capital Bancshares from $86.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Royal Bank Of Canada lifted their price objective on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Friday, January 23rd. Hovde Group upped their target price on Texas Capital Bancshares from $93.00 to $102.00 and gave the company a “market perform” rating in a research note on Tuesday, January 27th. DA Davidson increased their target price on Texas Capital Bancshares from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Finally, Citigroup raised their price target on Texas Capital Bancshares from $75.00 to $88.00 and gave the stock a “sell” rating in a research report on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $100.75.

Texas Capital Bancshares Price Performance

TCBI stock opened at $95.82 on Monday. The firm has a 50 day moving average of $97.88 and a 200-day moving average of $92.10. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.46 and a beta of 0.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. Texas Capital Bancshares has a 12-month low of $59.37 and a 12-month high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $2.08 EPS for the quarter, topping the consensus estimate of $1.78 by $0.30. Texas Capital Bancshares had a net margin of 16.52% and a return on equity of 10.05%. The business had revenue of $327.48 million for the quarter, compared to analyst estimates of $324.09 million. During the same period in the previous year, the firm earned $1.43 EPS. As a group, equities analysts expect that Texas Capital Bancshares will post 5.84 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 5,500 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average price of $22.80 per share, for a total transaction of $125,400.00. Following the completion of the transaction, the director owned 175,087 shares in the company, valued at $3,991,983.60. The trade was a 3.24% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paola M. Arbour bought 1,000 shares of the stock in a transaction on Wednesday, March 11th. The stock was purchased at an average cost of $91.50 per share, with a total value of $91,500.00. Following the completion of the purchase, the director directly owned 6,671 shares in the company, valued at $610,396.50. This trade represents a 17.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 49,500 shares of company stock worth $1,252,855 over the last ninety days. 1.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in shares of Texas Capital Bancshares by 10.0% in the third quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock valued at $113,000 after purchasing an additional 121 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Texas Capital Bancshares by 4.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,902 shares of the bank’s stock worth $245,000 after buying an additional 126 shares during the period. Arizona State Retirement System lifted its position in Texas Capital Bancshares by 0.9% during the third quarter. Arizona State Retirement System now owns 13,575 shares of the bank’s stock worth $1,147,000 after buying an additional 126 shares during the period. Commonwealth Equity Services LLC boosted its stake in Texas Capital Bancshares by 2.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,079 shares of the bank’s stock worth $550,000 after buying an additional 135 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Texas Capital Bancshares by 4.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,665 shares of the bank’s stock valued at $310,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.