Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Stock Rated “Hold” by Wall Street Brokerages

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) has been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $104.50.

A number of equities research analysts recently weighed in on TCBI shares. Wall Street Zen raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Barclays raised Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price objective on the stock in a report on Monday, August 3rd. Stephens reduced their target price on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. TD Cowen decreased their target price on Texas Capital Bancshares from $106.00 to $100.00 and set a “hold” rating for the company in a research report on Monday. Finally, Citigroup dropped their price target on Texas Capital Bancshares from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 22nd.

Insider Buying and Selling at Texas Capital Bancshares

In other news, insider Ellen Detrich sold 2,045 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $100.03, for a total transaction of $204,561.35. Following the completion of the sale, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.91% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TCBI. Congress Asset Management Co. lifted its holdings in shares of Texas Capital Bancshares by 21.8% during the third quarter. Congress Asset Management Co. now owns 93,803 shares of the bank’s stock worth $8,726,000 after purchasing an additional 16,790 shares during the period. Cim Investment Management Inc. purchased a new position in Texas Capital Bancshares in the 2nd quarter valued at $234,000. Sequoia Financial Advisors LLC acquired a new position in Texas Capital Bancshares in the 2nd quarter valued at $281,000. Engineers Gate Manager LP acquired a new position in Texas Capital Bancshares in the 2nd quarter valued at $1,256,000. Finally, Squarepoint Ops LLC acquired a new position in Texas Capital Bancshares in the 2nd quarter valued at $3,244,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Stock Down 0.8%

TCBI stock opened at $92.97 on Friday. The stock has a market cap of $4.04 billion, a P/E ratio of 12.09, a PEG ratio of 1.14 and a beta of 0.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares has a twelve month low of $75.41 and a twelve month high of $108.92. The company’s 50 day moving average is $97.50 and its two-hundred day moving average is $99.19.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.01. The business had revenue of $335.50 million during the quarter, compared to analysts’ expectations of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.63 EPS. Research analysts expect that Texas Capital Bancshares will post 7.41 earnings per share for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Texas Capital Bancshares’s dividend payout ratio (DPR) is presently 10.40%.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank provides banking and financial services primarily to businesses, entrepreneurs, professionals and high-net-worth individuals.

Its offerings include commercial and corporate banking, lending, treasury and cash-management services, investment banking, capital markets solutions, private wealth management and personal banking products. Texas Capital Bank also serves specialized industries and markets through expertise in areas such as real estate, energy, technology and healthcare.

Founded in 1998, Texas Capital Bank has expanded from its Texas roots to serve clients across the United States, with a particular focus on major Texas business centers.