Texas Capital Bancshares (NASDAQ:TCBI) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of Texas Capital Bancshares (NASDAQ:TCBI) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

TCBI has been the subject of a number of other research reports. Stephens upped their price target on Texas Capital Bancshares from $111.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Raymond James Financial raised their price objective on Texas Capital Bancshares from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. DA Davidson boosted their price objective on Texas Capital Bancshares from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Royal Bank Of Canada upped their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Friday, January 23rd. Finally, Piper Sandler increased their target price on Texas Capital Bancshares from $86.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $101.17.

Texas Capital Bancshares Stock Up 2.3%

TCBI opened at $94.88 on Monday. Texas Capital Bancshares has a fifty-two week low of $59.37 and a fifty-two week high of $108.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. The company has a fifty day moving average of $98.00 and a two-hundred day moving average of $92.07. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.45 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.30. Texas Capital Bancshares had a net margin of 16.52% and a return on equity of 10.05%. The business had revenue of $327.48 million during the quarter, compared to the consensus estimate of $324.09 million. During the same quarter in the prior year, the firm posted $1.43 earnings per share. On average, research analysts expect that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 20,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average cost of $22.69 per share, for a total transaction of $453,800.00. Following the acquisition, the director owned 169,587 shares in the company, valued at approximately $3,847,929.03. This represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura L. Whitley acquired 500 shares of the business’s stock in a transaction on Monday, January 26th. The shares were purchased at an average price of $97.51 per share, with a total value of $48,755.00. Following the completion of the purchase, the director owned 7,961 shares in the company, valued at $776,277.11. This represents a 6.70% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 49,500 shares of company stock valued at $1,252,855. 1.91% of the stock is owned by corporate insiders.

Institutional Trading of Texas Capital Bancshares

Institutional investors have recently made changes to their positions in the company. Optimize Financial Inc purchased a new position in Texas Capital Bancshares in the 3rd quarter worth approximately $441,000. Federated Hermes Inc. grew its position in shares of Texas Capital Bancshares by 153.7% in the third quarter. Federated Hermes Inc. now owns 123,900 shares of the bank’s stock valued at $10,473,000 after purchasing an additional 75,061 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Texas Capital Bancshares by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 263,975 shares of the bank’s stock valued at $22,314,000 after purchasing an additional 14,240 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Texas Capital Bancshares by 15.3% in the third quarter. Thrivent Financial for Lutherans now owns 44,242 shares of the bank’s stock valued at $3,740,000 after purchasing an additional 5,867 shares during the last quarter. Finally, CWM LLC lifted its position in Texas Capital Bancshares by 145.1% during the third quarter. CWM LLC now owns 21,909 shares of the bank’s stock worth $1,852,000 after buying an additional 12,971 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.