Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Given Consensus Recommendation of “Reduce” by Brokerages

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) has received an average recommendation of “Reduce” from the eleven analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $64.45.

A number of research analysts recently issued reports on TCBI shares. Raymond James downgraded Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, April 4th. Citigroup cut their price objective on Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. UBS Group boosted their price objective on Texas Capital Bancshares from $56.00 to $57.00 and gave the company a “sell” rating in a research note on Tuesday, January 23rd. Truist Financial downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating and cut their price objective for the company from $72.00 to $66.00 in a research note on Monday, April 1st. Finally, Barclays assumed coverage on Texas Capital Bancshares in a research note on Friday, March 8th. They set an “underweight” rating and a $47.00 price objective for the company.

Texas Capital Bancshares Trading Down 1.0 %

Texas Capital Bancshares stock opened at $56.52 on Monday. The business has a 50-day simple moving average of $59.17 and a two-hundred day simple moving average of $59.08. The company has a market cap of $2.68 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.99 and a beta of 1.19. Texas Capital Bancshares has a 52-week low of $42.79 and a 52-week high of $66.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, January 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.24). The firm had revenue of $245.85 million for the quarter, compared to the consensus estimate of $251.96 million. Texas Capital Bancshares had a net margin of 10.56% and a return on equity of 7.28%. During the same quarter in the prior year, the firm earned $0.87 earnings per share. Analysts predict that Texas Capital Bancshares will post 3.55 EPS for the current year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Thomas E. Long acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $58.78 per share, with a total value of $117,560.00. Following the acquisition, the director now directly owns 7,542 shares of the company’s stock, valued at $443,318.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Thomas E. Long acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $58.78 per share, with a total value of $117,560.00. Following the acquisition, the director now directly owns 7,542 shares of the company’s stock, valued at $443,318.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert W. Stallings acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were purchased at an average cost of $19.09 per share, for a total transaction of $95,450.00. Following the completion of the acquisition, the director now directly owns 117,706 shares in the company, valued at $2,247,007.54. The disclosure for this purchase can be found here. Insiders have bought 28,000 shares of company stock valued at $612,850 in the last ninety days. Corporate insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of TCBI. Price T Rowe Associates Inc. MD raised its holdings in Texas Capital Bancshares by 68.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,278,954 shares of the bank’s stock valued at $119,964,000 after buying an additional 927,419 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Texas Capital Bancshares by 26.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,633,859 shares of the bank’s stock valued at $219,159,000 after buying an additional 762,038 shares during the period. North Reef Capital Management LP raised its holdings in Texas Capital Bancshares by 99.2% during the 3rd quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock valued at $85,405,000 after buying an additional 722,250 shares during the period. Wellington Management Group LLP grew its position in Texas Capital Bancshares by 97.9% in the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after acquiring an additional 547,336 shares during the last quarter. Finally, Norges Bank bought a new position in Texas Capital Bancshares in the 4th quarter valued at $35,120,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.