Texas Capital Bancshares (NASDAQ:TCBI) Downgraded by Piper Sandler to Neutral

Piper Sandler lowered shares of Texas Capital Bancshares (NASDAQ:TCBI) from an overweight rating to a neutral rating in a research note issued to investors on Friday morning, MarketBeat.com reports. They currently have $82.00 price target on the bank’s stock, up from their previous price target of $77.00.

A number of other research firms have also recently commented on TCBI. JPMorgan Chase & Co. lowered their price objective on shares of Texas Capital Bancshares from $73.00 to $72.00 and set an “underweight” rating for the company in a research report on Wednesday, October 9th. Wedbush upped their price objective on shares of Texas Capital Bancshares from $70.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Truist Financial increased their target price on Texas Capital Bancshares from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, Stephens increased their target price on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.56.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock opened at $76.63 on Friday. The firm has a fifty day moving average of $69.13 and a two-hundred day moving average of $63.53. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 425.72, a PEG ratio of 1.00 and a beta of 1.13. Texas Capital Bancshares has a 52 week low of $52.89 and a 52 week high of $82.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.99 and a current ratio of 1.01.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was acquired at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the purchase, the director now owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Robert W. Stallings bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was acquired at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the purchase, the director now owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert W. Stallings bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was purchased at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the purchase, the director now directly owns 12,794 shares in the company, valued at $263,812.28. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 43,000 shares of company stock worth $866,100. Insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds have recently bought and sold shares of TCBI. Innealta Capital LLC bought a new position in Texas Capital Bancshares in the 2nd quarter valued at about $26,000. Blue Trust Inc. raised its holdings in Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after acquiring an additional 169 shares during the period. CWM LLC raised its holdings in Texas Capital Bancshares by 426.6% in the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares during the period. Mather Group LLC. bought a new position in Texas Capital Bancshares in the 1st quarter valued at about $50,000. Finally, Fidelis Capital Partners LLC bought a new position in Texas Capital Bancshares in the 1st quarter valued at about $54,000. 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.