Texas Capital Bancshares (NASDAQ:TCBI) Upgraded at Barclays

by · The Cerbat Gem

Barclays upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI – Free Report) from an underweight rating to an equal weight rating in a research note released on Monday, Marketbeat Ratings reports. The firm currently has $100.00 price target on the bank’s stock.

TCBI has been the subject of a number of other reports. TD Cowen reduced their price objective on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating for the company in a research note on Monday, July 27th. Fundamental Research set a $110.00 target price on Texas Capital Bancshares in a research report on Wednesday, July 1st. Wall Street Zen lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Piper Sandler lifted their price target on Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Stephens decreased their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $105.83.

Read Our Latest Research Report on Texas Capital Bancshares

Texas Capital Bancshares Trading Down 1.5%

Shares of Texas Capital Bancshares stock opened at $99.98 on Monday. The stock has a market capitalization of $4.35 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.25 and a beta of 0.68. Texas Capital Bancshares has a 52-week low of $75.41 and a 52-week high of $108.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $101.46 and its 200 day simple moving average is $99.72.

Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.01. The firm had revenue of $335.50 million during the quarter, compared to analyst estimates of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $1.63 earnings per share. As a group, research analysts anticipate that Texas Capital Bancshares will post 7.33 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 annualized dividend and a yield of 0.8%. Texas Capital Bancshares’s dividend payout ratio is currently 10.40%.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, insider Ellen Detrich sold 2,045 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $753,125.87. This trade represents a 21.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anna M. Alvarado sold 3,500 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total transaction of $353,325.00. Following the completion of the transaction, the insider directly owned 23,810 shares in the company, valued at approximately $2,403,619.50. The trade was a 12.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 104,145 shares of company stock valued at $10,570,584 in the last three months. Company insiders own 1.91% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of institutional investors have recently added to or reduced their stakes in TCBI. Danske Bank A S bought a new stake in shares of Texas Capital Bancshares during the 3rd quarter valued at about $25,000. Farther Finance Advisors LLC grew its holdings in shares of Texas Capital Bancshares by 1,381.8% during the fourth quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock worth $30,000 after purchasing an additional 304 shares in the last quarter. Root Financial Partners LLC increased its position in shares of Texas Capital Bancshares by 85.2% in the first quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 150 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Texas Capital Bancshares in the third quarter worth approximately $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Texas Capital Bancshares by 169.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock valued at $35,000 after purchasing an additional 246 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

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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