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 report released on Saturday morning,Wall Street Zen reports.

TCBI has been the subject of several other research reports. Fundamental Research set a $110.00 price target on shares of Texas Capital Bancshares in a research report on Wednesday, July 1st. Stephens cut their price objective on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Citigroup raised their price objective on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.83.

Texas Capital Bancshares Stock Down 1.5%

Shares of TCBI opened at $97.18 on Friday. The company has a market capitalization of $4.22 billion, a P/E ratio of 12.64, a PEG ratio of 1.20 and a beta of 0.68. Texas Capital Bancshares has a one year low of $75.41 and a one year high of $108.92. The business’s 50 day simple moving average is $101.12 and its 200-day simple moving average is $99.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. The firm had revenue of $335.50 million during the quarter, compared to analysts’ expectations of $333.37 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The business’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. As a group, sell-side analysts predict that Texas Capital Bancshares will post 7.39 EPS for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares’s dividend payout ratio (DPR) is currently 10.40%.

Insider Buying and Selling

In other Texas Capital Bancshares news, CEO Rob C. Holmes sold 49,500 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the sale, the chief executive officer directly owned 167,635 shares in the company, valued at approximately $16,968,014.70. This trade represents a 22.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ellen Detrich sold 2,045 shares of Texas Capital Bancshares stock in a transaction on Friday, July 24th. The stock was sold at an average price of $100.03, for a total transaction of $204,561.35. Following the transaction, the insider directly owned 7,529 shares in the company, valued at approximately $753,125.87. This represents a 21.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 104,145 shares of company stock valued at $10,570,584 in the last 90 days. 1.91% of the stock is owned by insiders.

Institutional Trading of Texas Capital Bancshares

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Texas Capital Bancshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank’s stock worth $2,062,000 after acquiring an additional 1,206 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Texas Capital Bancshares by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock worth $41,837,000 after acquiring an additional 20,231 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Texas Capital Bancshares in the first quarter worth about $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Texas Capital Bancshares by 29.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank’s stock worth $8,050,000 after purchasing an additional 24,538 shares during the period. Finally, Invesco Ltd. raised its position in shares of Texas Capital Bancshares by 34.0% during the second quarter. Invesco Ltd. now owns 149,559 shares of the bank’s stock worth $11,875,000 after purchasing an additional 37,982 shares during the period. Institutional investors own 96.88% of the company’s stock.

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.