Texas Capital Bancshares (NASDAQ:TCBI) Downgraded to “Sell” Rating by StockNews.com

StockNews.com cut shares of Texas Capital Bancshares (NASDAQ:TCBI) from a hold rating to a sell rating in a research note issued to investors on Thursday.

A number of other equities analysts also recently commented on the company. Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $77.00 to $82.00 in a research note on Friday, October 18th. Hovde Group boosted their price objective on Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. dropped their target price on Texas Capital Bancshares from $86.00 to $81.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. DA Davidson boosted their price target on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Barclays upped their price target on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $75.93.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI opened at $76.95 on Thursday. The business has a 50 day simple moving average of $81.95 and a 200-day simple moving average of $74.23. Texas Capital Bancshares has a twelve month low of $54.68 and a twelve month high of $91.80. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 427.50, a price-to-earnings-growth ratio of 0.73 and a beta of 1.17. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. As a group, equities research analysts expect that Texas Capital Bancshares will post 4.08 earnings per share for the current year.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCBI. Geode Capital Management LLC lifted its holdings in shares of Texas Capital Bancshares by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock valued at $81,856,000 after buying an additional 13,022 shares during the period. Wellington Management Group LLP lifted its holdings in Texas Capital Bancshares by 15.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after acquiring an additional 150,301 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after purchasing an additional 506,094 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Texas Capital Bancshares by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock worth $40,792,000 after purchasing an additional 10,171 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Texas Capital Bancshares by 12.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 467,001 shares of the bank’s stock worth $33,372,000 after purchasing an additional 52,095 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.