Texas Capital Bancshares (NASDAQ:TCBI) Downgraded by Zacks Research to “Hold”

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

A number of other equities research analysts have also issued reports on TCBI. Citigroup boosted their price target on shares of Texas Capital Bancshares from $75.00 to $88.00 and gave the company a “sell” rating in a report on Monday, January 26th. Royal Bank Of Canada lifted their price objective on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Friday, January 23rd. Hovde Group boosted their target price on shares of Texas Capital Bancshares from $93.00 to $102.00 and gave the company a “market perform” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. increased their target price on Texas Capital Bancshares from $92.00 to $105.00 and gave the company an “underweight” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Texas Capital Bancshares in a research report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average target price of $101.17.

Texas Capital Bancshares Trading Up 2.3%

NASDAQ:TCBI opened at $94.88 on Monday. The stock has a fifty day simple moving average of $98.00 and a 200 day simple moving average of $92.07. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.45 and a beta of 0.66. Texas Capital Bancshares has a 1-year low of $59.37 and a 1-year high of $108.92. 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 posted its quarterly earnings data on Thursday, January 22nd. The bank reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.30. Texas Capital Bancshares had a net margin of 16.52% and a return on equity of 10.05%. The company had revenue of $327.48 million during the quarter, compared to analyst estimates of $324.09 million. During the same period in the prior year, the firm earned $1.43 earnings per share. Sell-side analysts forecast that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert W. Stallings purchased 5,500 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $22.80 per share, for a total transaction of $125,400.00. Following the completion of the acquisition, the director owned 175,087 shares in the company, valued at $3,991,983.60. This trade represents a 3.24% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Laura L. Whitley acquired 500 shares of the company’s stock in a transaction on Monday, January 26th. The stock was bought at an average price of $97.51 per share, for a total transaction of $48,755.00. Following the purchase, the director owned 7,961 shares in the company, valued at approximately $776,277.11. This trade represents a 6.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 49,500 shares of company stock worth $1,252,855. 1.91% of the stock is owned by company insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Danske Bank A S bought a new position in Texas Capital Bancshares during the third quarter valued at about $25,000. Farther Finance Advisors LLC boosted its stake in shares of Texas Capital Bancshares by 1,381.8% during the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock worth $30,000 after acquiring an additional 304 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Texas Capital Bancshares by 169.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock valued at $35,000 after acquiring an additional 246 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Texas Capital Bancshares during the 4th quarter valued at about $36,000. 96.88% of the stock is currently 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.