Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Receives Average Rating of “Hold” from Analysts

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) have earned an average recommendation of “Hold” from the sixteen ratings firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $74.69.

Several analysts have weighed in on TCBI shares. Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their target price for the company from $77.00 to $82.00 in a report on Friday, October 18th. Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a report on Tuesday, September 17th. Truist Financial upped their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada raised their price objective on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their target price on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, October 18th.

Texas Capital Bancshares Stock Up 0.8 %

TCBI stock opened at $78.30 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $83.12 and its 200 day moving average price is $71.56. Texas Capital Bancshares has a 52 week low of $54.68 and a 52 week high of $91.80. The company has a market cap of $3.62 billion, a P/E ratio of 435.00, a P/E/G ratio of 0.80 and a beta of 1.14.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping the consensus estimate of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The business had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. On average, research analysts expect that Texas Capital Bancshares will post 4.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 20,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were bought at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the purchase, the director now directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.53% of the stock is owned by company insiders.

Institutional Trading of Texas Capital Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after acquiring an additional 506,094 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after purchasing an additional 221,454 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth about $11,489,000. American Century Companies Inc. increased its position in Texas Capital Bancshares by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after purchasing an additional 171,263 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Texas Capital Bancshares by 15.4% in the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after buying an additional 150,301 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.