Texas Capital Bancshares (NASDAQ:TCBI – Get Note) was upgraded by StockNews.com investment analysts from a “sell” rating to a “hold” rating in a research report released Friday.
TCBI has been the subject of several other reports. Jefferies Financial Group raised its target price on Texas Capital Bancshares from $51.00 to $52.00 in a Monday, July 11 research report. Truist Financial lowered its price target on Texas Capital Bancshares from $69.00 to $65.00 and set a “buy” rating for the company in a Wednesday, June 15 research report. Raymond James upgraded Texas Capital Bancshares from an “outperform” rating to a “strong buy” rating and set a price target of $70.00 for the company in a Thursday, July 7 research report. TheStreet downgraded Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 research report. Finally, Stephens raised his price target on Texas Capital Bancshares to $66.00 in a research report on Friday. Five analysts rated the stock with a hold rating, one issued a buy rating and one gave the company a strong buy rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $64.13.
Texas Capital Bancshares Stock up 2.3%
NASDAQ:TCBI shares opened at $56.94 on Friday. The company has a market capitalization of $2.89 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.02 and a beta of 1.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a leverage ratio of 0.34. Texas Capital Bancshares has a 12-month low of $48.79 and a 12-month high of $71.60. The company has a fifty-day simple moving average of $53.51 and a 200-day simple moving average of $58.25.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last announced its results on Thursday, July 21. The bank reported earnings per share (EPS) of $0.59 for the quarter, missing the consensus estimate of $0.74 per ($0.15). Texas Capital Bancshares had a return on equity of 6.48% and a net margin of 18.42%. During the same period of the previous year, the company achieved EPS of $1.31. Analysts predict that Texas Capital Bancshares will post 3.44 earnings per share for the current year.
Insider Buying and Selling at Texas Capital Bancshares
In other news, Director Robert W. Stallings bought 2,000 shares of the company in a deal that took place on Thursday, May 12. The shares were purchased at an average cost of $50.25 per share, for a total transaction of $100,500.00. Following the acquisition, the director now directly owns 46,810 shares of the company, valued at $2,352,202.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, Director Robert W. Stallings bought 8,000 shares of the company in a deal that took place on Monday, April 25. The shares were purchased at an average cost of $52.65 per share, for a total transaction of $421,200.00. Following the acquisition, the administrator now directly owns 44,810 shares of the company, valued at $2,359,246.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Robert W. Stallings purchased 2,000 shares of the company in a transaction that took place on Thursday, May 12. The shares were purchased at an average price of $50.25 per share, for a total transaction of $100,500.00. Following the completion of the acquisition, the administrator now owns 46,810 shares of the company, valued at $2,352,202.50. Disclosure of this purchase can be found here. During the last quarter, insiders bought 20,700 shares of the company valued at $1,087,345. Insiders of the company own 0.56% of the shares of the company.
Institutional investors weigh in on shares of Texas Capital Bancshares
Institutional investors and hedge funds have been buying and selling stocks recently. Quent Capital LLC increased its position in Texas Capital Bancshares by 157.5% in Q1. Quent Capital LLC now owns 837 shares of the bank valued at $48,000 after purchasing an additional 512 shares in the last quarter. Exane Derivatives acquired a new stake in Texas Capital Bancshares in Q1 worth $108,000. Carl Stuart Investment Advisor Inc. bought a new stake in Texas Capital Bancshares in Q1 for $115,000. Oppenheimer Asset Management Inc. bought a new stake in Texas Capital Bancshares in Q1 for $210,000. Finally, Point72 Hong Kong Ltd increased its position in Texas Capital Bancshares by 80.3% in the 1st quarter. Point72 Hong Kong Ltd now owns 3,895 shares in the bank valued at $223,000 after buying an additional 1,735 shares in the last quarter. 97.77% of the shares are held by hedge funds and other institutional investors.
About Texas Capital Bancshares
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Texas Capital Bancshares, Inc. operates as a bank holding company for Texas Capital Bank, is a full-service financial services company that provides customized solutions to businesses, entrepreneurs and individuals. The Company offers commercial banking, retail banking, investment banking and wealth management.
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