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

Wall Street Zen upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other analysts have also issued reports on the company. Barclays raised Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 target price on the stock in a report on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Fundamental Research set a $110.00 price objective on shares of Texas Capital Bancshares in a research note on Wednesday, July 1st. Finally, Citigroup boosted their target price on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $105.83.

Texas Capital Bancshares Stock Up 0.6%

TCBI stock opened at $98.64 on Friday. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 1.20 and a beta of 0.68. The company has a 50-day moving average of $101.17 and a two-hundred day moving average of $99.55. 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 current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.01. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The business had revenue of $335.50 million for the quarter, compared to analyst estimates of $333.37 million. During the same period in the previous year, the company posted $1.63 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities research analysts anticipate that Texas Capital Bancshares will post 7.39 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend 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 10.40%.

Insiders Place Their Bets

In other news, insider Anna M. Alvarado sold 3,500 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rob C. Holmes sold 49,500 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the completion of the transaction, the chief executive officer owned 167,635 shares of the company’s stock, valued at $16,968,014.70. The trade was a 22.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 104,145 shares of company stock worth $10,570,584. 1.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Texas Capital Bancshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank’s stock valued at $2,062,000 after buying an additional 1,206 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Texas Capital Bancshares by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock worth $41,837,000 after acquiring an additional 20,231 shares during the period. United Services Automobile Association acquired a new stake in shares of Texas Capital Bancshares during the 1st quarter valued at about $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Texas Capital Bancshares by 29.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank’s stock valued at $8,050,000 after acquiring an additional 24,538 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Texas Capital Bancshares by 34.0% in the second quarter. Invesco Ltd. now owns 149,559 shares of the bank’s stock valued at $11,875,000 after acquiring an additional 37,982 shares during the period. Institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

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.