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

StockNews.com upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI - Free Report) from a sell rating to a hold rating in a research note published on Friday.

Other equities analysts have also recently issued reports about the company. DA Davidson dropped their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a "neutral" rating for the company in a report on Friday, January 24th. Stephens dropped their price objective on Texas Capital Bancshares from $102.00 to $97.00 and set an "overweight" rating for the company in a research note on Tuesday. Piper Sandler downgraded shares of Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and boosted their target price for the company from $77.00 to $82.00 in a research note on Friday, October 18th. Hovde Group increased their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a "market perform" rating in a research report on Friday, October 18th. Finally, Wedbush reissued a "sector perform" rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $79.13.

Texas Capital Bancshares Stock Performance

TCBI traded down $0.35 during trading on Friday, reaching $78.95. 369,049 shares of the company's stock were exchanged, compared to its average volume of 494,092. Texas Capital Bancshares has a fifty-two week low of $54.68 and a fifty-two week high of $91.80. The company has a market capitalization of $3.65 billion, a P/E ratio of 61.68, a PEG ratio of 0.69 and a beta of 1.17. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $81.05 and a 200 day moving average price of $74.87.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. As a group, analysts predict that Texas Capital Bancshares will post 5.82 earnings per share for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 2,006 shares of the stock in a transaction dated Monday, January 27th. The stock was bought at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the transaction, the director now directly owns 182,899 shares in the company, valued at $3,839,050.01. This represents a 1.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders bought a total of 8,402 shares of company stock worth $213,837 over the last 90 days. 0.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of Texas Capital Bancshares by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank's stock valued at $81,856,000 after purchasing an additional 13,022 shares during the period. Wellington Management Group LLP lifted its stake 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. Charles Schwab Investment Management Inc. boosted its holdings in Texas Capital Bancshares by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank's stock worth $40,792,000 after buying an additional 10,171 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Texas Capital Bancshares by 12.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 467,001 shares of the bank's stock worth $33,372,000 after buying an additional 52,095 shares during the period. Finally, Millennium Management LLC increased 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 acquiring an additional 221,454 shares during the last quarter. 96.88% of the stock is owned by institutional investors.

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.