Texas Capital Bancshares (NASDAQ:TCBI) Downgraded by StockNews.com to Sell

Texas Capital Bancshares (NASDAQ:TCBI) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

A number of other equities research analysts have also recently weighed in on TCBI. Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Royal Bank of Canada lifted their price objective on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Hovde Group boosted their target price on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Truist Financial lifted their price target on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, Barclays increased their price objective on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Texas Capital Bancshares currently has an average rating of “Hold” and an average price target of $76.27.

Texas Capital Bancshares Stock Up 0.6 %

Shares of NASDAQ:TCBI opened at $77.45 on Thursday. The firm has a market capitalization of $3.58 billion, a P/E ratio of 430.28, a P/E/G ratio of 0.73 and a beta of 1.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day moving average price of $81.75 and a 200-day moving average price of $74.35. Texas Capital Bancshares has a 52-week low of $54.68 and a 52-week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 EPS for the quarter, beating the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. As a group, equities research analysts anticipate that Texas Capital Bancshares will post 4.08 EPS for the current fiscal year.

Institutional Trading of Texas Capital Bancshares

Several large investors have recently modified their holdings of TCBI. AQR Capital Management LLC grew its holdings in Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after purchasing an additional 506,094 shares during the period. Millennium Management LLC grew its stake in shares of Texas Capital Bancshares by 146.7% during the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after acquiring an additional 221,454 shares during the period. Wellington Management Group LLP increased its holdings in Texas Capital Bancshares by 15.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock worth $80,265,000 after acquiring an additional 150,301 shares in the last quarter. Jane Street Group LLC lifted its holdings in Texas Capital Bancshares by 107.2% during the third quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock valued at $9,481,000 after purchasing an additional 68,632 shares in the last quarter. Finally, Hodges Capital Management Inc. boosted its position in shares of Texas Capital Bancshares by 32.5% in the fourth quarter. Hodges Capital Management Inc. now owns 252,973 shares of the bank’s stock worth $19,782,000 after purchasing an additional 62,030 shares during the period. 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.