Texas Capital Bancshares (NASDAQ:TCBI) Downgraded by Piper Sandler to Neutral

Piper Sandler cut shares of Texas Capital Bancshares (NASDAQ:TCBI) from an overweight rating to a neutral rating in a report issued on Friday, MarketBeat reports. Piper Sandler currently has $82.00 target price on the bank’s stock, up from their prior target price of $77.00.

TCBI has been the subject of several other reports. Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a report on Tuesday, September 17th. JPMorgan Chase & Co. lowered their target price on shares of Texas Capital Bancshares from $73.00 to $72.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 9th. Wedbush increased their target price on shares of Texas Capital Bancshares from $70.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their target price for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. Finally, DA Davidson raised their price target on Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.56.

Texas Capital Bancshares Price Performance

TCBI opened at $76.63 on Friday. The stock has a fifty day moving average of $69.13 and a 200-day moving average of $63.53. The firm has a market capitalization of $3.54 billion, a P/E ratio of 425.72, a PEG ratio of 1.00 and a beta of 1.13. Texas Capital Bancshares has a 12-month low of $52.89 and a 12-month high of $82.25. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 15,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $20.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $400,000. This trade represents a 300.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, July 29th. The shares were acquired at an average cost of $20.46 per share, with a total value of $204,600.00. Following the acquisition, the director now directly owns 31,294 shares of the company’s stock, valued at $640,275.24. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Stallings bought 15,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at $400,000. This represents a 300.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 43,000 shares of company stock valued at $866,100. 0.99% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TCBI. AlphaMark Advisors LLC lifted its holdings in Texas Capital Bancshares by 2.6% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank’s stock worth $386,000 after buying an additional 139 shares in the last quarter. Blue Trust Inc. lifted its holdings in Texas Capital Bancshares by 89.9% during the 3rd 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. SummerHaven Investment Management LLC lifted its holdings in Texas Capital Bancshares by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank’s stock worth $828,000 after buying an additional 257 shares in the last quarter. CWM LLC lifted its holdings in Texas Capital Bancshares by 40.8% during the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after buying an additional 275 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Texas Capital Bancshares by 3.3% during the 1st quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock worth $665,000 after buying an additional 344 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

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.