BidaskClub Lowers Texas Capital Bancshares (NASDAQ:TCBI) to Sell

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BidaskClub lowered shares of Texas Capital Bancshares (NASDAQ:TCBI) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

Several other research firms have also recently commented on TCBI. Stephens reissued a hold rating and issued a $56.00 target price on shares of Texas Capital Bancshares in a research note on Thursday, October 17th. Zacks Investment Research upgraded Texas Capital Bancshares from a sell rating to a hold rating and set a $58.00 price target on the stock in a research report on Monday, October 21st. Wedbush reduced their price target on Texas Capital Bancshares from $58.00 to $57.00 and set a neutral rating on the stock in a research report on Thursday, October 17th. TheStreet lowered Texas Capital Bancshares from a b- rating to a c+ rating in a research report on Friday, August 30th. Finally, ValuEngine lowered Texas Capital Bancshares from a hold rating to a sell rating in a research report on Monday, October 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Texas Capital Bancshares has a consensus rating of Hold and an average price target of $59.89.

Shares of NASDAQ TCBI traded up $0.03 during midday trading on Wednesday, hitting $57.18. The stock had a trading volume of 408,800 shares, compared to its average volume of 633,505. The company’s 50-day simple moving average is $55.73 and its 200 day simple moving average is $57.82. The firm has a market cap of $2.93 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.16 and a beta of 1.86. Texas Capital Bancshares has a fifty-two week low of $47.86 and a fifty-two week high of $66.61. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.20 and a quick ratio of 1.11.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, October 16th. The bank reported $1.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.21. The company had revenue of $272.47 million during the quarter, compared to analysts’ expectations of $262.12 million. Texas Capital Bancshares had a return on equity of 12.95% and a net margin of 22.29%. During the same period last year, the firm earned $1.65 EPS. Equities analysts expect that Texas Capital Bancshares will post 6.28 EPS for the current fiscal year.

In other Texas Capital Bancshares news, Director Steve Rosenberg sold 1,997 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $55.48, for a total transaction of $110,793.56. Following the transaction, the director now directly owns 36,115 shares in the company, valued at $2,003,660.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Savant Capital LLC bought a new position in Texas Capital Bancshares during the second quarter worth about $63,000. Tower Research Capital LLC TRC lifted its holdings in Texas Capital Bancshares by 1,637.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,251 shares of the bank’s stock worth $76,000 after acquiring an additional 1,179 shares in the last quarter. Acadian Asset Management LLC bought a new position in Texas Capital Bancshares during the second quarter worth about $87,000. Kavar Capital Partners LLC bought a new stake in shares of Texas Capital Bancshares in the second quarter valued at about $123,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Texas Capital Bancshares in the second quarter valued at about $210,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

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Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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