Texas Capital Bancshares (NASDAQ:TCBI) Earns “Neutral” Rating from DA Davidson

Texas Capital Bancshares (NASDAQ:TCBI)‘s stock had its “neutral” rating reiterated by stock analysts at DA Davidson in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $91.00 price objective on the bank’s stock. DA Davidson’s price objective suggests a potential upside of 6.16% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods raised their price objective on shares of Texas Capital Bancshares from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. TD Cowen upgraded Texas Capital Bancshares to a “hold” rating in a report on Thursday, September 25th. Hovde Group boosted their price target on shares of Texas Capital Bancshares from $85.00 to $93.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of Texas Capital Bancshares from $90.00 to $92.00 and gave the company an “underweight” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings upgraded Texas Capital Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $88.10.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ:TCBI traded up $0.98 during trading hours on Thursday, hitting $85.72. The stock had a trading volume of 164,604 shares, compared to its average volume of 485,605. The stock’s fifty day simple moving average is $84.64 and its 200 day simple moving average is $82.02. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.63 and a beta of 0.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares has a 1-year low of $59.37 and a 1-year high of $94.61.

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

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 5,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average price of $20.68 per share, with a total value of $103,400.00. Following the purchase, the director owned 275,913 shares in the company, valued at approximately $5,705,880.84. This trade represents a 1.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Large investors have recently added to or reduced their stakes in the stock. Texas Capital Bank Wealth Management Services Inc increased its stake in Texas Capital Bancshares by 2,249.3% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank’s stock valued at $18,630,000 after acquiring an additional 238,785 shares during the period. Intech Investment Management LLC increased its position in shares of Texas Capital Bancshares by 22.1% during the first quarter. Intech Investment Management LLC now owns 29,790 shares of the bank’s stock valued at $2,225,000 after purchasing an additional 5,393 shares during the period. Victory Capital Management Inc. raised its stake in shares of Texas Capital Bancshares by 22.2% in the first quarter. Victory Capital Management Inc. now owns 117,828 shares of the bank’s stock valued at $8,802,000 after purchasing an additional 21,431 shares in the last quarter. Hsbc Holdings PLC lifted its position in Texas Capital Bancshares by 69.0% in the first quarter. Hsbc Holdings PLC now owns 19,524 shares of the bank’s stock worth $1,449,000 after purchasing an additional 7,974 shares during the period. Finally, Wolverine Asset Management LLC increased its holdings in Texas Capital Bancshares by 36.9% in the 1st quarter. Wolverine Asset Management LLC now owns 71,915 shares of the bank’s stock valued at $5,372,000 after buying an additional 19,398 shares during the period. 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.