Texas Capital Bancshares (NASDAQ:TCBI) Upgraded to “Hold” at StockNews.com

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

Several other equities analysts have also weighed in on the stock. Citigroup reiterated a “sell” rating and issued a $60.00 target price on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Barclays increased their price objective on Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a research report on Friday. Royal Bank of Canada lifted their target price on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday. Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a report on Tuesday, September 17th. Finally, Hovde Group boosted their price objective on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a report on Friday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.56.

Texas Capital Bancshares Stock Down 3.0 %

NASDAQ TCBI opened at $76.63 on Monday. The business’s fifty day simple moving average is $69.13 and its 200-day simple moving average is $63.53. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.54 billion, a PE ratio of 425.72, a P/E/G 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.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 15,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $400,000. This represents a 300.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 15,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $400,000. This represents a 300.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings purchased 4,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were bought at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the purchase, the director now owns 12,794 shares in the company, valued at approximately $263,812.28. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 43,000 shares of company stock valued at $866,100. Insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of large investors have recently added to or reduced their stakes in TCBI. First Hawaiian Bank purchased a new position in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $675,000. Hodges Capital Management Inc. increased its position in Texas Capital Bancshares by 24.2% during the first quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock worth $9,039,000 after buying an additional 28,650 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of 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 worth $65,219,000 after acquiring an additional 506,094 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Texas Capital Bancshares by 73.0% in the first quarter. BNP Paribas Financial Markets now owns 25,489 shares of the bank’s stock valued at $1,569,000 after acquiring an additional 10,752 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Texas Capital Bancshares by 26.6% during the second quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock valued at $2,096,000 after acquiring an additional 7,200 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

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.