Texas Capital Bancshares (NASDAQ:TCBI) Rating Lowered to Neutral at Piper Sandler

Piper Sandler downgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from an overweight rating to a neutral rating in a research report released on Friday morning, Marketbeat.com reports. The firm currently has $82.00 price objective on the bank’s stock, up from their previous price objective of $77.00.

Several other equities research analysts also recently commented on TCBI. JPMorgan Chase & Co. reduced their target price on Texas Capital Bancshares from $73.00 to $72.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a report on Tuesday, September 17th. Bank of America raised Texas Capital Bancshares from an “underperform” rating to a “buy” rating and upped their target price for the company from $51.00 to $77.00 in a report on Monday, September 9th. Hovde Group upped their target price on Texas Capital Bancshares from $66.00 to $73.00 and gave the company a “market perform” rating in a report on Monday, September 23rd. Finally, Wedbush upped their target price on Texas Capital Bancshares from $70.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.19.

Texas Capital Bancshares Trading Down 1.9 %

Shares of Texas Capital Bancshares stock opened at $79.02 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The business has a fifty day simple moving average of $69.13 and a 200-day simple moving average of $63.45. Texas Capital Bancshares has a fifty-two week low of $52.89 and a fifty-two week high of $82.25.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, July 18th. The bank reported $0.80 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 analysts’ expectations of $268.02 million. During the same period in the prior year, the company earned $1.33 earnings per share. On average, equities analysts forecast that Texas Capital Bancshares will post 3.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert W. Stallings bought 14,000 shares of the company’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 transaction, the director now directly owns 55,294 shares in the company, valued at approximately $1,102,009.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert W. Stallings bought 10,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were bought at an average cost of $20.46 per share, with a total value of $204,600.00. Following the transaction, the director now directly owns 31,294 shares in the company, valued at approximately $640,275.24. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Stallings bought 14,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was purchased at an average cost of $19.93 per share, for a total transaction of $279,020.00. Following the completion of the transaction, the director now owns 55,294 shares in the company, valued at approximately $1,102,009.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 43,500 shares of company stock valued at $876,400 in the last three months. Insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several large investors have recently made changes to their positions in TCBI. Wellington Management Group LLP boosted its stake in shares of Texas Capital Bancshares by 97.9% during the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after acquiring an additional 547,336 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Texas Capital Bancshares by 87.0% during the 2nd 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 in the last quarter. Millennium Management LLC boosted its stake in shares of Texas Capital Bancshares by 146.7% during the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after acquiring an additional 221,454 shares in the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth about $11,489,000. Finally, American Century Companies Inc. boosted its stake in shares of Texas Capital Bancshares by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after acquiring an additional 171,263 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

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.