Texas Capital Bancshares (NASDAQ:TCBI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a sell rating to a hold rating in a research report report published on Sunday morning.

TCBI has been the subject of several other reports. Barclays lifted their price target on shares of Texas Capital Bancshares from $70.00 to $78.00 and gave the company an “underweight” rating in a report on Tuesday, July 8th. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the company a “hold” rating in a research note on Wednesday, May 21st. Raymond James Financial dropped their price target on Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods reduced their price objective on Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. increased their target price on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $79.43.

Texas Capital Bancshares Stock Down 3.3%

NASDAQ:TCBI opened at $84.91 on Friday. The stock has a 50-day simple moving average of $77.25 and a 200 day simple moving average of $75.45. Texas Capital Bancshares has a one year low of $56.24 and a one year high of $94.61. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 48.80, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). Texas Capital Bancshares had a net margin of 5.04% and a return on equity of 9.39%. The firm had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Sell-side analysts predict that Texas Capital Bancshares will post 5.84 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert W. Stallings bought 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of the acquisition, the director directly owned 60,000 shares in the company, valued at approximately $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 29,800 shares of company stock valued at $1,059,205 in the last ninety days. Company insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds have recently modified their holdings of the company. Picton Mahoney Asset Management bought a new position in Texas Capital Bancshares during the fourth quarter valued at about $30,000. Assetmark Inc. acquired a new position in shares of Texas Capital Bancshares in the 4th quarter worth approximately $32,000. UMB Bank n.a. raised its holdings in shares of Texas Capital Bancshares by 1,089.8% in the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank’s stock worth $44,000 after purchasing an additional 534 shares in the last quarter. GAMMA Investing LLC lifted its stake in Texas Capital Bancshares by 127.0% during the first quarter. GAMMA Investing LLC now owns 831 shares of the bank’s stock valued at $62,000 after purchasing an additional 465 shares during the last quarter. Finally, State of Wyoming bought a new stake in Texas Capital Bancshares during the first quarter worth approximately $70,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

About Texas Capital Bancshares

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.