StockNews.com Upgrades Texas Capital Bancshares (NASDAQ:TCBI) to “Hold”

StockNews.com upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Several other equities analysts also recently issued reports on the company. Royal Bank of Canada lifted their price objective on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $77.00 to $82.00 in a research note on Friday, October 18th. Barclays lifted their price target on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Hovde Group raised their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Stephens boosted their target price on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.00.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI traded up $1.12 on Wednesday, reaching $84.09. The stock had a trading volume of 492,374 shares, compared to its average volume of 428,895. The company has a market capitalization of $3.89 billion, a P/E ratio of 467.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.12. The stock has a fifty day moving average price of $73.66 and a 200-day moving average price of $65.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares has a 1-year low of $53.16 and a 1-year high of $86.00.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average price of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the transaction, the director now directly owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds have recently added to or reduced their stakes in TCBI. Innealta Capital LLC bought a new position in shares of Texas Capital Bancshares during the 2nd quarter valued at about $26,000. Blue Trust Inc. boosted its stake in Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after buying an additional 169 shares in the last quarter. CWM LLC grew its position in Texas Capital Bancshares by 40.8% during the second quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after acquiring an additional 275 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Texas Capital Bancshares during the third quarter worth approximately $71,000. Finally, Headlands Technologies LLC boosted its stake in shares of Texas Capital Bancshares by 80.4% in the 1st quarter. Headlands Technologies LLC now owns 2,910 shares of the bank’s stock valued at $179,000 after purchasing an additional 1,297 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

About Texas Capital Bancshares

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.