Texas Capital Bancshares (NASDAQ:TCBI) Upgraded by Wall Street Zen to “Hold” Rating

by · The Cerbat Gem

Wall Street Zen upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI – Free Report) from a sell rating to a hold rating in a research note issued to investors on Sunday morning.

A number of other analysts have also weighed in on TCBI. Hovde Group upped their price objective on shares of Texas Capital Bancshares from $93.00 to $102.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 27th. Zacks Research lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Piper Sandler upped their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Barclays upped their price objective on shares of Texas Capital Bancshares from $90.00 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, January 23rd. Finally, Royal Bank Of Canada upped their price objective on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $102.08.

Read Our Latest Stock Analysis on TCBI

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $95.98 on Friday. The firm has a market capitalization of $4.19 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.36 and a beta of 0.68. Texas Capital Bancshares has a 12-month low of $70.00 and a 12-month high of $108.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $97.36 and a 200-day moving average price of $95.51.

Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The firm had revenue of $323.99 million during the quarter, compared to analyst estimates of $318.10 million. During the same period in the previous year, the firm earned $0.92 earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. Equities research analysts expect that Texas Capital Bancshares will post 7.63 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st. Texas Capital Bancshares’s dividend payout ratio is presently 10.75%.

Insider Activity

In other news, Director Paola M. Arbour purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was acquired at an average cost of $91.50 per share, with a total value of $91,500.00. Following the completion of the transaction, the director owned 6,671 shares in the company, valued at $610,396.50. This represents a 17.63% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Stallings purchased 5,500 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were purchased at an average cost of $22.80 per share, with a total value of $125,400.00. Following the completion of the transaction, the director owned 175,087 shares of the company’s stock, valued at approximately $3,991,983.60. The trade was a 3.24% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 46,500 shares of company stock valued at $1,113,500. Insiders own 1.91% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds have recently modified their holdings of the stock. Quantinno Capital Management LP increased its holdings in shares of Texas Capital Bancshares by 288.1% during the first quarter. Quantinno Capital Management LP now owns 34,729 shares of the bank’s stock valued at $3,295,000 after acquiring an additional 25,781 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Texas Capital Bancshares during the first quarter valued at about $18,391,000. Gabelli Funds LLC increased its holdings in shares of Texas Capital Bancshares by 15.6% during the first quarter. Gabelli Funds LLC now owns 15,600 shares of the bank’s stock valued at $1,480,000 after acquiring an additional 2,100 shares in the last quarter. Inceptionr LLC acquired a new position in shares of Texas Capital Bancshares during the first quarter valued at about $379,000. Finally, Sei Investments Co. increased its holdings in shares of Texas Capital Bancshares by 64.9% during the first quarter. Sei Investments Co. now owns 222,565 shares of the bank’s stock valued at $21,117,000 after acquiring an additional 87,617 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

(Get Free Report)

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.

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