Wall Street Zen Upgrades Texas Capital Bancshares (NASDAQ:TCBI) to “Hold”

Texas Capital Bancshares (NASDAQ:TCBI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

TCBI has been the topic of several other research reports. TD Cowen dropped their price target on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating on the stock in a research report on Monday, July 27th. Barclays raised Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price objective for the company in a research note on Monday, August 3rd. JPMorgan Chase & Co. raised their target price on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Stephens decreased their price target 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. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $105.83.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $98.64 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares has a 52 week low of $75.41 and a 52 week high of $108.92. The business has a 50 day moving average price of $101.17 and a 200-day moving average price of $99.51. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.20 and a beta of 0.68.

Texas Capital Bancshares (NASDAQ:TCBI) last issued 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 return on equity of 10.86% and a net margin of 17.90%.The company had revenue of $335.50 million for the quarter, compared to analysts’ expectations of $333.37 million. During the same period last year, the business earned $1.63 EPS. Texas Capital Bancshares’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts expect that Texas Capital Bancshares will post 7.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other news, insider Anna M. Alvarado sold 3,500 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total value of $353,325.00. Following the completion of the transaction, the insider owned 23,810 shares in the company, valued at $2,403,619.50. This trade represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $204,561.35. Following the completion of the sale, the insider directly owned 7,529 shares in the company, valued at approximately $753,125.87. This trade represents a 21.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 104,145 shares of company stock valued at $10,570,584 over the last three months. 1.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TCBI. BlackRock Inc. bought a new stake in Texas Capital Bancshares during the 2nd quarter valued at $578,148,000. California State Teachers Retirement System grew its position in shares of Texas Capital Bancshares by 9,949.4% in the second quarter. California State Teachers Retirement System now owns 5,568,296 shares of the bank’s stock valued at $574,982,000 after purchasing an additional 5,512,887 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Texas Capital Bancshares by 1.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,376,880 shares of the bank’s stock valued at $305,743,000 after purchasing an additional 43,003 shares during the period. AQR Capital Management LLC increased its position in shares of Texas Capital Bancshares by 16.4% during the fourth quarter. AQR Capital Management LLC now owns 2,234,678 shares of the bank’s stock valued at $202,328,000 after buying an additional 315,484 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Texas Capital Bancshares by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank’s stock valued at $108,436,000 after acquiring an additional 33,709 shares during the period. 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.