Texas Capital Bancshares (NASDAQ:TCBI) Cut to Strong Sell at BidaskClub

BidaskClub cut shares of Texas Capital Bancshares (NASDAQ:TCBI) from a sell rating to a strong sell rating in a research report report published on Tuesday morning, BidAskClub reports.

Several other equities analysts also recently commented on TCBI. Piper Jaffray Companies downgraded shares of Texas Capital Bancshares from an overweight rating to a neutral rating and cut their price target for the company from $71.50 to $64.50 in a report on Friday, June 7th. Raymond James upped their price target on shares of Texas Capital Bancshares from $63.00 to $65.00 and gave the company an outperform rating in a report on Friday, August 2nd. TheStreet upgraded shares of Texas Capital Bancshares from a c+ rating to a b- rating in a report on Tuesday, April 30th. Zacks Investment Research downgraded shares of Texas Capital Bancshares from a buy rating to a hold rating and set a $62.00 price target on the stock. in a report on Tuesday, June 11th. Finally, Stephens reiterated a hold rating on shares of Texas Capital Bancshares in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $64.90.

Texas Capital Bancshares stock opened at $52.81 on Tuesday. The company’s 50-day moving average price is $59.25 and its 200-day moving average price is $59.81. Texas Capital Bancshares has a twelve month low of $47.86 and a twelve month high of $94.95. The company has a quick ratio of 1.21, a current ratio of 1.26 and a debt-to-equity ratio of 1.39. The company has a market cap of $2.79 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.89 and a beta of 1.79.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, July 17th. The bank reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.03). Texas Capital Bancshares had a return on equity of 13.29% and a net margin of 22.88%. The business had revenue of $267.92 million during the quarter, compared to the consensus estimate of $267.15 million. During the same quarter last year, the firm earned $1.38 earnings per share. As a group, sell-side analysts expect that Texas Capital Bancshares will post 6.05 earnings per share for the current fiscal year.

In related news, CEO C Keith Cargill bought 3,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were acquired at an average cost of $58.83 per share, for a total transaction of $176,490.00. Following the purchase, the chief executive officer now directly owns 120,847 shares of the company’s stock, valued at $7,109,429.01. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ian J. Turpin sold 3,977 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $60.59, for a total transaction of $240,966.43. Following the completion of the transaction, the director now owns 4,632 shares in the company, valued at $280,652.88. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Texas Capital Bancshares by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,598,074 shares of the bank’s stock worth $282,182,000 after purchasing an additional 20,884 shares during the period. Wasatch Advisors Inc. lifted its position in shares of Texas Capital Bancshares by 84.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,948,897 shares of the bank’s stock worth $119,604,000 after purchasing an additional 892,326 shares during the period. Frontier Capital Management Co. LLC lifted its position in shares of Texas Capital Bancshares by 20.8% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,251,651 shares of the bank’s stock worth $68,328,000 after purchasing an additional 215,197 shares during the period. Northern Trust Corp lifted its position in shares of Texas Capital Bancshares by 5.1% in the 2nd quarter. Northern Trust Corp now owns 802,621 shares of the bank’s stock worth $49,256,000 after purchasing an additional 39,261 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of Texas Capital Bancshares by 129.6% in the 2nd quarter. Prudential Financial Inc. now owns 627,734 shares of the bank’s stock worth $38,524,000 after purchasing an additional 354,390 shares during the period. Institutional investors and hedge funds own 94.65% of the company’s stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

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Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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