Texas Capital Bancshares (NASDAQ:TCBI) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a hold rating to a sell rating in a research report report published on Thursday.

TCBI has been the subject of a number of other research reports. DA Davidson increased their target price on Texas Capital Bancshares from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on Texas Capital Bancshares from $86.00 to $81.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada lifted their target price 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. Barclays increased their price target on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Finally, Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $75.93.

Texas Capital Bancshares Trading Down 4.5 %

Shares of TCBI opened at $76.95 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares has a 1-year low of $54.68 and a 1-year high of $91.80. The stock has a market capitalization of $3.56 billion, a P/E ratio of 427.50, a P/E/G ratio of 0.73 and a beta of 1.17. The business’s 50-day moving average price is $81.95 and its 200 day moving average price is $74.23.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. Analysts expect that Texas Capital Bancshares will post 4.08 earnings per share for the current year.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in shares of Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after acquiring an additional 506,094 shares in the last quarter. Millennium Management LLC lifted its holdings in Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after purchasing an additional 221,454 shares during the last quarter. Wellington Management Group LLP boosted its position in Texas Capital Bancshares by 15.4% during the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock worth $80,265,000 after purchasing an additional 150,301 shares during the period. Jane Street Group LLC grew 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 during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Texas Capital Bancshares by 326.6% in the third quarter. Victory Capital Management Inc. now owns 70,103 shares of the bank’s stock valued at $5,010,000 after purchasing an additional 53,669 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

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.