Texas Capital Bancshares (NASDAQ:TCBI) Given “Neutral” Rating at DA Davidson

DA Davidson restated their neutral rating on shares of Texas Capital Bancshares (NASDAQ:TCBI) in a research note published on Thursday morning,Benzinga reports. They currently have a $91.00 target price on the bank’s stock.

Several other research firms have also recently commented on TCBI. Cowen started coverage on shares of Texas Capital Bancshares in a report on Wednesday, September 24th. They set a “hold” rating for the company. Weiss Ratings upgraded shares of Texas Capital Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 31st. Piper Sandler boosted their price target on shares of Texas Capital Bancshares from $84.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Zacks Research lowered Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Barclays boosted their target price on Texas Capital Bancshares from $85.00 to $90.00 and gave the company an “underweight” rating in a research note on Tuesday, November 11th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $88.10.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock opened at $84.82 on Thursday. Texas Capital Bancshares has a 12 month low of $59.37 and a 12 month high of $94.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.87 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.63 and a beta of 0.82. The business has a fifty day simple moving average of $84.59 and a 200-day simple moving average of $82.04.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.41. Texas Capital Bancshares had a return on equity of 9.51% and a net margin of 15.14%.The firm had revenue of $340.35 million during the quarter, compared to the consensus estimate of $327.13 million. During the same period in the prior year, the business earned ($1.41) EPS. The business’s revenue for the quarter was up 171.6% on a year-over-year basis. On average, sell-side analysts anticipate that Texas Capital Bancshares will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 5,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was bought at an average price of $20.68 per share, for a total transaction of $103,400.00. Following the purchase, the director owned 275,913 shares in the company, valued at $5,705,880.84. The trade was a 1.85% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of large investors have recently added to or reduced their stakes in TCBI. T. Rowe Price Investment Management Inc. raised its position in shares of Texas Capital Bancshares by 0.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank’s stock valued at $248,936,000 after purchasing an additional 26,786 shares during the period. AQR Capital Management LLC grew its stake in Texas Capital Bancshares by 25.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock valued at $162,229,000 after buying an additional 384,748 shares during the last quarter. Azora Capital LP raised its holdings in Texas Capital Bancshares by 11.5% in the 3rd quarter. Azora Capital LP now owns 1,036,613 shares of the bank’s stock worth $87,625,000 after acquiring an additional 106,599 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Texas Capital Bancshares by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 829,325 shares of the bank’s stock worth $70,103,000 after acquiring an additional 3,522 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Texas Capital Bancshares by 12.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 657,626 shares of the bank’s stock worth $52,216,000 after acquiring an additional 71,774 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

About Texas Capital Bancshares

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.