Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Receives Average Recommendation of “Reduce” from Brokerages

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) has been given an average recommendation of “Reduce” by the eleven ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $64.45.

TCBI has been the topic of several research analyst reports. Mizuho reissued a “hold” rating and issued a $66.00 price objective (down from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Raymond James lowered Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 4th. Truist Financial lowered Texas Capital Bancshares from a “buy” rating to a “hold” rating and dropped their price objective for the company from $72.00 to $66.00 in a report on Monday, April 1st. UBS Group raised their price objective on Texas Capital Bancshares from $56.00 to $57.00 and gave the company a “sell” rating in a report on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th.

Insider Buying and Selling

In related news, Director Robert W. Stallings acquired 5,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, January 25th. The shares were purchased at an average price of $19.09 per share, for a total transaction of $95,450.00. Following the completion of the transaction, the director now owns 117,706 shares in the company, valued at approximately $2,247,007.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Texas Capital Bancshares news, Director Thomas E. Long bought 2,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, February 27th. The shares were bought at an average price of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the transaction, the director now directly owns 7,542 shares of the company’s stock, valued at $443,318.76. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert W. Stallings bought 5,000 shares of Texas Capital Bancshares stock in a transaction on Thursday, January 25th. The stock was acquired at an average price of $19.09 per share, for a total transaction of $95,450.00. Following the transaction, the director now directly owns 117,706 shares of the company’s stock, valued at $2,247,007.54. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 28,000 shares of company stock worth $612,850. 0.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Texas Capital Bancshares by 0.7% in the second quarter. BlackRock Inc. now owns 5,784,573 shares of the bank’s stock valued at $297,906,000 after purchasing an additional 39,338 shares during the period. Vanguard Group Inc. raised its position in Texas Capital Bancshares by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after purchasing an additional 68,211 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Texas Capital Bancshares by 26.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,633,859 shares of the bank’s stock valued at $219,159,000 after purchasing an additional 762,038 shares during the period. State Street Corp raised its position in Texas Capital Bancshares by 5.1% in the first quarter. State Street Corp now owns 3,268,391 shares of the bank’s stock valued at $187,311,000 after purchasing an additional 158,815 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Texas Capital Bancshares by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock valued at $211,025,000 after purchasing an additional 80,311 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Down 1.0 %

Texas Capital Bancshares stock opened at $56.52 on Monday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. Texas Capital Bancshares has a 52 week low of $42.79 and a 52 week high of $66.18. The business’s 50-day moving average price is $59.17 and its 200 day moving average price is $59.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, January 18th. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.24). Texas Capital Bancshares had a return on equity of 7.28% and a net margin of 10.56%. The company had revenue of $245.85 million for the quarter, compared to analyst estimates of $251.96 million. During the same period last year, the business earned $0.87 earnings per share. As a group, sell-side analysts anticipate that Texas Capital Bancshares will post 3.55 earnings per share for the current year.

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.