Texas Capital Bancshares (NASDAQ:TCBI) Upgraded by BidaskClub to Hold

Texas Capital Bancshares (NASDAQ:TCBI) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday, BidAskClub reports.

Several other brokerages have also issued reports on TCBI. UBS Group lowered shares of Texas Capital Bancshares from a “neutral” rating to a “sell” rating and cut their target price for the stock from $62.00 to $52.00 in a research report on Monday, August 5th. Wedbush cut their target price on shares of Texas Capital Bancshares from $58.00 to $57.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Stephens restated a “hold” rating and set a $56.00 price target on shares of Texas Capital Bancshares in a research report on Thursday, October 17th. Raymond James lowered shares of Texas Capital Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 29th. Finally, SunTrust Banks cut their price target on shares of Texas Capital Bancshares from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $59.89.

NASDAQ:TCBI traded up $0.40 during midday trading on Wednesday, hitting $59.55. The company had a trading volume of 288,300 shares, compared to its average volume of 645,397. Texas Capital Bancshares has a 52-week low of $47.86 and a 52-week high of $66.61. The stock’s fifty day moving average price is $55.07 and its 200-day moving average price is $58.14. The company has a market capitalization of $2.98 billion, a PE ratio of 10.28, a P/E/G ratio of 1.18 and a beta of 1.86. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.11.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, October 16th. The bank reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.21. Texas Capital Bancshares had a net margin of 22.29% and a return on equity of 12.95%. The company had revenue of $272.47 million during the quarter, compared to analyst estimates of $262.12 million. During the same period in the previous year, the business earned $1.65 earnings per share. As a group, research analysts forecast that Texas Capital Bancshares will post 6.25 earnings per share for the current year.

In other Texas Capital Bancshares news, Director Steve Rosenberg sold 1,997 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $55.48, for a total transaction of $110,793.56. Following the completion of the sale, the director now directly owns 36,115 shares in the company, valued at $2,003,660.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Texas Capital Bancshares by 0.5% during the second quarter. Vanguard Group Inc. now owns 4,598,074 shares of the bank’s stock valued at $282,182,000 after buying an additional 20,884 shares during the period. Wasatch Advisors Inc. boosted its position in Texas Capital Bancshares by 84.5% during the second quarter. Wasatch Advisors Inc. now owns 1,948,897 shares of the bank’s stock valued at $119,604,000 after buying an additional 892,326 shares during the period. Northern Trust Corp boosted its holdings in shares of Texas Capital Bancshares by 5.1% during the second quarter. Northern Trust Corp now owns 802,621 shares of the bank’s stock worth $49,256,000 after purchasing an additional 39,261 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Texas Capital Bancshares by 129.6% during the second quarter. Prudential Financial Inc. now owns 627,734 shares of the bank’s stock worth $38,524,000 after purchasing an additional 354,390 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Texas Capital Bancshares by 50.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 437,188 shares of the bank’s stock worth $23,892,000 after purchasing an additional 146,514 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

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Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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