Texas Capital Bancshares (NASDAQ:TCBI) Stock Rating Lowered by Piper Sandler

Texas Capital Bancshares (NASDAQ:TCBI) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued on Friday, Marketbeat Ratings reports. They presently have a $82.00 price objective on the bank’s stock, up from their prior price objective of $77.00. Piper Sandler’s target price would indicate a potential upside of 3.77% from the stock’s current price.

A number of other research analysts also recently weighed in on the stock. DA Davidson increased their price objective on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. 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 note on Tuesday, September 17th. Truist Financial raised their price target on Texas Capital Bancshares from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Hovde Group lifted their price objective on Texas Capital Bancshares from $66.00 to $73.00 and gave the stock a “market perform” rating in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered their target price on Texas Capital Bancshares from $73.00 to $72.00 and set an “underweight” rating on the stock in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.19.

Texas Capital Bancshares Trading Down 1.9 %

Texas Capital Bancshares stock opened at $79.02 on Friday. Texas Capital Bancshares has a one year low of $52.89 and a one year high of $82.25. The business’s fifty day moving average is $69.13 and its 200 day moving average is $63.49. The stock has a market capitalization of $3.69 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The company had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. During the same quarter in the prior year, the company posted $1.33 EPS. On average, sell-side analysts predict that Texas Capital Bancshares will post 3.5 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 10,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were bought at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the purchase, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,000 shares of the stock in a transaction dated Monday, July 29th. The shares were acquired at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the transaction, the director now directly owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert W. Stallings acquired 14,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $19.93 per share, with a total value of $279,020.00. Following the completion of the acquisition, the director now owns 55,294 shares in the company, valued at approximately $1,102,009.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 43,500 shares of company stock worth $876,400. 0.99% of the stock is owned by company insiders.

Institutional Trading of Texas Capital Bancshares

A number of large investors have recently added to or reduced their stakes in TCBI. Vanguard Group Inc. grew its stake in shares of Texas Capital Bancshares by 1.4% in the 4th 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 in the last quarter. Wellington Management Group LLP grew its stake in shares of Texas Capital Bancshares by 97.9% during the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after buying an additional 547,336 shares during the last quarter. AQR Capital Management LLC grew its position in Texas Capital Bancshares by 87.0% in the 2nd 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. American Century Companies Inc. grew its holdings in shares of Texas Capital Bancshares by 43.8% in the second 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 during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Texas Capital Bancshares by 42.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after acquiring an additional 161,643 shares during the period. Institutional investors own 96.88% of the company’s stock.

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.