Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Receives Average Rating of “Hold” from Analysts

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) have received a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $104.50.

TCBI has been the topic of a number of analyst reports. Citigroup reduced their price target on Texas Capital Bancshares from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 22nd. Stephens dropped their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Raymond James Financial cut their target price on Texas Capital Bancshares from $115.00 to $108.00 and set an “outperform” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on Texas Capital Bancshares from $110.00 to $100.00 and set an “underweight” rating on the stock in a report on Thursday, October 1st. Finally, Fundamental Research set a $110.00 target price on Texas Capital Bancshares in a report on Wednesday, July 1st.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock opened at $92.39 on Friday. Texas Capital Bancshares has a twelve month low of $75.41 and a twelve month 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 0.15. The company has a 50-day simple moving average of $97.21 and a two-hundred day simple moving average of $99.18. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.10 and a beta of 0.63.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.01. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The firm had revenue of $335.50 million for the quarter, compared to analyst estimates of $333.37 million. During the same quarter in the prior year, the business posted $1.63 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts forecast that Texas Capital Bancshares will post 7.4 EPS for the current year.

Texas Capital Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Texas Capital Bancshares’s dividend payout ratio (DPR) is currently 10.40%.

Insider Activity at Texas Capital Bancshares

In other news, insider Ellen Detrich sold 2,045 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the completion of the transaction, the insider directly owned 7,529 shares in the company, valued at approximately $753,125.87. The trade was a 21.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.91% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Texas Capital Bancshares in the 2nd quarter valued at $578,148,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth $75,429,000. Norges Bank bought a new stake in shares of Texas Capital Bancshares during the 4th quarter worth $51,728,000. Bank of America Corp DE acquired a new stake in Texas Capital Bancshares in the second quarter valued at about $47,997,000. Finally, Bank of New York Mellon Corp bought a new position in Texas Capital Bancshares in the second quarter valued at about $43,244,000. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank provides banking and financial services primarily to businesses, entrepreneurs, professionals and high-net-worth individuals.

Its offerings include commercial and corporate banking, lending, treasury and cash-management services, investment banking, capital markets solutions, private wealth management and personal banking products. Texas Capital Bank also serves specialized industries and markets through expertise in areas such as real estate, energy, technology and healthcare.

Founded in 1998, Texas Capital Bank has expanded from its Texas roots to serve clients across the United States, with a particular focus on major Texas business centers.