Texas Capital Bancshares (NASDAQ:TCBI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

Several other research firms also recently weighed in on TCBI. Citigroup reissued a “sell” rating and issued a $60.00 target price on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, September 9th. DA Davidson increased their price target on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $77.00 to $82.00 in a research report on Friday, October 18th. Finally, 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 research report on Tuesday, September 17th. Four investment 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, Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $73.56.

Texas Capital Bancshares Price Performance

NASDAQ TCBI opened at $77.95 on Monday. The stock has a market capitalization of $3.60 billion, a P/E ratio of 433.06, a P/E/G ratio of 0.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. The business’s fifty day moving average is $70.55 and its two-hundred day moving average is $63.98. Texas Capital Bancshares has a 1 year low of $53.16 and a 1 year high of $82.25.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 14,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of $19.93 per share, for a total transaction of $279,020.00. Following the acquisition, the director now owns 55,294 shares in the company, valued at $1,102,009.42. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Robert W. Stallings bought 20,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average price of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert W. Stallings purchased 14,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average cost of $19.93 per share, for a total transaction of $279,020.00. Following the completion of the transaction, the director now owns 55,294 shares of the company’s stock, valued at $1,102,009.42. 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 have purchased 59,000 shares of company stock valued at $1,209,220. Corporate insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Texas Capital Bancshares by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock worth $315,927,000 after buying an additional 68,211 shares during the last quarter. AQR Capital Management LLC raised its stake in Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after purchasing an additional 506,094 shares during the last quarter. American Century Companies Inc. boosted its holdings in Texas Capital Bancshares by 43.8% in the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after purchasing an additional 171,263 shares during the period. D. E. Shaw & Co. Inc. grew its position in Texas Capital Bancshares by 11.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank’s stock worth $23,323,000 after purchasing an additional 38,393 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Texas Capital Bancshares by 146.7% during the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after purchasing an additional 221,454 shares during the period. Institutional investors own 96.88% of the company’s stock.

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.