Texas capital

Texas Capital Bancshares (NASDAQ:TCBI) upgraded to Strong-Buy at Raymond James

Texas Capital Bancshares (NASDAQ:TCBI – Get Note) was raised by Raymond James research analysts from an “outperform” rating to a “strong buy” rating in a research report released Thursday to clients and investors, reports The Fly.

TCBI has been the subject of several other research reports. TheStreet upgraded Texas Capital Bancshares from a “b-” to a “c+” rating in a Thursday, April 21 research report. StockNews.com downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Thursday, April 14 report. Finally, Truist Financial reduced 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 report. One research analyst rated the stock with a sell rating, four gave the company a hold rating, three gave the company a buy rating and one gave the company a strong buy rating. Based on MarketBeat data, Texas Capital Bancshares currently has an average rating of “Hold” and an average target price of $69.47.

Shares of NASDAQ TCBI opened at $53.09 on Thursday. The stock has a fifty-day moving average price of $53.13 and a two-hundred-day moving average price of $58.68. The company has a debt ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $2.69 billion, a P/E ratio of 13.44, a PEG ratio of 2.02 and a beta of 1.54. Texas Capital Bancshares has a 1-year low of $48.79 and a 1-year high of $71.60.

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Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last released quarterly earnings data on Wednesday, April 20. The bank reported earnings per share of $0.69 for the quarter, missing the consensus estimate of $0.73 per ($0.04). The company posted revenue of $203.83 million for the quarter, versus a consensus estimate of $213.06 million. Texas Capital Bancshares had a return on equity of 7.80% and a net margin of 22.71%. The company’s revenues were down 14.8% from the same quarter last year. In the same period a year earlier, the company had earned earnings per share of $1.33. On average, research analysts predict that Texas Capital Bancshares will post 3.3 earnings per share for the current fiscal year.

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 8,000 shares of the company in a transaction on Monday, April 25. The stock was purchased at an average price of $52.65 per share, for a total transaction of $421,200.00. Following the transaction, the director now owns 44,810 shares of the company, valued at approximately $2,359,246.50. The purchase was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. Additionally, director Larry L. Helm purchased 5,700 shares of the company in a transaction dated Monday, May 2. The shares were purchased at an average cost of $52.25 per share, with a total value of $297,825.00. Following the acquisition, the administrator now directly owns 77,858 shares of the company, valued at $4,068,080.50. Disclosure of this purchase can be found here. Insiders acquired 20,700 shares of the company worth $1,087,345 in the past ninety days. Insiders of the company own 0.56% of the shares of the company.

Hedge funds and other institutional investors have recently changed their positions in the stock. Bank of New York Mellon Corp increased its position in Texas Capital Bancshares by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 562,282 shares of the bank worth $33,750,000 after buying an additional 13,322 shares last quarter. UBS Asset Management Americas Inc. increased its position in shares of Texas Capital Bancshares by 2.1% during the third quarter. UBS Asset Management Americas Inc. now owns 58,414 shares of the bank worth $3,506,000 after buying an additional 1,208 shares last quarter. Retirement Systems of Alabama increased its position in shares of Texas Capital Bancshares by 1.2% during the fourth quarter. Retirement Systems of Alabama now owns 66,269 shares of the bank worth $3,993,000 after buying 756 additional shares last quarter. Strs Ohio acquired a new stock position in Texas Capital Bancshares during Q4 worth approximately $867,000. Finally, New York State Teachers Retirement System increased its position in shares of Texas Capital Bancshares by 1.2% during the 4th quarter. The New York State Teachers’ Retirement System now owns 73,754 shares of the bank worth $4,444,000 after buying 898 additional shares in the last quarter. 97.77% of the shares are held by hedge funds and other institutional investors.

About Texas Capital Bancshares (Get an assessment)

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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Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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