Texas Capital Bancshares (NASDAQ:TCBI) Rating Lowered to “Hold” at Zacks Research

Texas Capital Bancshares (NASDAQ:TCBI) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

TCBI has been the topic of a number of other reports. Piper Sandler boosted their price objective on shares of Texas Capital Bancshares from $86.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Barclays lifted their price target on shares of Texas Capital Bancshares from $90.00 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, January 23rd. Stephens upped their price target on shares of Texas Capital Bancshares from $111.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. increased their price objective on shares of Texas Capital Bancshares from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 16th. Finally, TD Cowen raised their price objective on shares of Texas Capital Bancshares from $103.00 to $110.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Texas Capital Bancshares has an average rating of “Hold” and an average price target of $101.17.

Texas Capital Bancshares Stock Up 2.3%

TCBI stock opened at $94.88 on Monday. Texas Capital Bancshares has a twelve month low of $59.37 and a twelve month high of $108.92. The stock has a market cap of $4.19 billion, a P/E ratio of 13.95, a PEG ratio of 0.45 and a beta of 0.66. The business’s 50-day moving average price is $98.00 and its 200-day moving average price is $92.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.30. Texas Capital Bancshares had a return on equity of 10.05% and a net margin of 16.52%.The company had revenue of $327.48 million for the quarter, compared to the consensus estimate of $324.09 million. During the same quarter last year, the company earned $1.43 EPS. On average, equities research analysts forecast that Texas Capital Bancshares will post 5.84 EPS for the current year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 5,500 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $22.80 per share, for a total transaction of $125,400.00. Following the completion of the purchase, the director owned 175,087 shares of the company’s stock, valued at approximately $3,991,983.60. The trade was a 3.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paola M. Arbour acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were bought at an average price of $91.50 per share, for a total transaction of $91,500.00. Following the acquisition, the director owned 6,671 shares of the company’s stock, valued at approximately $610,396.50. This represents a 17.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 49,500 shares of company stock worth $1,252,855. Corporate insiders own 1.91% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Large investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. raised its stake in shares of Texas Capital Bancshares by 1.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,376,880 shares of the bank’s stock worth $305,743,000 after purchasing an additional 43,003 shares during the last quarter. AQR Capital Management LLC increased its holdings in Texas Capital Bancshares by 16.4% in the 4th quarter. AQR Capital Management LLC now owns 2,234,678 shares of the bank’s stock worth $202,328,000 after buying an additional 315,484 shares during the period. Geode Capital Management LLC raised its position in Texas Capital Bancshares by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank’s stock worth $108,436,000 after buying an additional 33,709 shares during the last quarter. Azora Capital LP lifted its stake in Texas Capital Bancshares by 11.5% during the 3rd quarter. Azora Capital LP now owns 1,036,613 shares of the bank’s stock valued at $87,625,000 after acquiring an additional 106,599 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Texas Capital Bancshares by 2.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 847,583 shares of the bank’s stock valued at $76,740,000 after acquiring an additional 18,258 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.

About Texas Capital Bancshares

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.