Texas Capital Bancshares (NASDAQ:TCBI) Coverage Initiated by Analysts at UBS Group

UBS Group assumed coverage on shares of Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) in a report released on Wednesday morning, The Fly reports. The brokerage issued a sell rating and a $51.00 target price on the bank’s stock.

Several other research analysts also recently issued reports on the company. Truist Financial upped their price objective on Texas Capital Bancshares from $68.00 to $80.00 and gave the stock a buy rating in a report on Friday, January 20th. TheStreet raised Texas Capital Bancshares from a c+ rating to a b rating in a research note on Wednesday, January 18th. StockNews.com downgraded Texas Capital Bancshares from a hold rating to a sell rating in a research note on Monday, March 13th. JPMorgan Chase & Co. increased their price target on Texas Capital Bancshares from $50.00 to $55.00 and gave the company an underweight rating in a research note on Monday, January 23rd. Finally, DA Davidson reissued a neutral rating on shares of Texas Capital Bancshares in a research note on Wednesday, December 21st. Four research analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $61.70.

Texas Capital Bancshares Stock Down 6.8 %

NASDAQ:TCBI opened at $53.96 on Wednesday. The stock’s fifty day moving average price is $63.80 and its two-hundred day moving average price is $60.97. Texas Capital Bancshares has a 52-week low of $45.81 and a 52-week high of $69.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of 1.80 and a beta of 1.31.

Insiders Place Their Bets

In related news, Director Robert W. Stallings acquired 6,000 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The stock was bought at an average price of $22.14 per share, for a total transaction of $132,840.00. Following the acquisition, the director now directly owns 26,000 shares of the company’s stock, valued at $575,640. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert W. Stallings bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was acquired at an average cost of $21.18 per share, for a total transaction of $211,800.00. Following the purchase, the director now owns 45,000 shares of the company’s stock, valued at approximately $953,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Stallings bought 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 24th. The stock was purchased at an average price of $22.14 per share, with a total value of $132,840.00. Following the completion of the purchase, the director now directly owns 26,000 shares in the company, valued at approximately $575,640. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 19,888 shares of company stock worth $430,333. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Texas Capital Bancshares by 7.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,115,316 shares of the bank’s stock valued at $183,899,000 after purchasing an additional 221,350 shares during the last quarter. Bernzott Capital Advisors acquired a new stake in Texas Capital Bancshares during the third quarter worth approximately $13,138,000. Great Lakes Advisors LLC acquired a new stake in Texas Capital Bancshares during the third quarter worth approximately $4,120,000. Amalgamated Bank lifted its position in Texas Capital Bancshares by 0.7% during the third quarter. Amalgamated Bank now owns 33,098 shares of the bank’s stock worth $1,954,000 after acquiring an additional 222 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Texas Capital Bancshares by 16.1% during the third quarter. Bank of New York Mellon Corp now owns 1,176,388 shares of the bank’s stock worth $69,443,000 after acquiring an additional 163,349 shares during the last quarter. 96.91% of the stock is currently owned by institutional investors and hedge funds.

About Texas Capital Bancshares

(Get Rating)

Texas Capital Bancshares, Inc is the holding company of Texas Capital Bank, which engages in the provision of financial services and customized solutions to businesses, entrepreneurs, and individual customers. The company was founded by George F. Jones, Jr. and Joseph M. Grant in November 1996 and is headquartered in Dallas, TX.