Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Given Average Recommendation of “Hold” by Brokerages

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) has been given a consensus recommendation of “Hold” by the fourteen ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $78.00.

Several brokerages have recently weighed in on TCBI. DA Davidson dropped their price objective on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Hovde Group lowered their price target on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. Barclays cut their price objective on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their target price on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Finally, Jefferies Financial Group set a $80.00 price target on shares of Texas Capital Bancshares and gave the company a “hold” rating in a research note on Wednesday, May 21st.

Insider Activity

In related news, Director Robert W. Stallings purchased 7,000 shares of Texas Capital Bancshares stock in a transaction on Monday, June 2nd. The shares were purchased at an average price of $19.78 per share, for a total transaction of $138,460.00. Following the transaction, the director now owns 255,913 shares of the company’s stock, valued at approximately $5,061,959.14. This represents a 2.81% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders bought 19,300 shares of company stock worth $846,265. 1.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Texas Capital Bancshares by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank’s stock worth $367,327,000 after purchasing an additional 20,245 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Texas Capital Bancshares by 0.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank’s stock worth $248,936,000 after acquiring an additional 26,786 shares during the period. AQR Capital Management LLC raised its position in shares of Texas Capital Bancshares by 84.8% in the 1st quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank’s stock worth $105,395,000 after acquiring an additional 657,630 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Texas Capital Bancshares by 9.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 813,028 shares of the bank’s stock valued at $60,733,000 after purchasing an additional 68,195 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Texas Capital Bancshares by 12.0% in the 4th quarter. Northern Trust Corp now owns 660,478 shares of the bank’s stock valued at $51,649,000 after purchasing an additional 70,804 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $75.89 on Friday. Texas Capital Bancshares has a 12-month low of $56.24 and a 12-month high of $91.80. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 43.61, a P/E/G ratio of 0.84 and a beta of 0.65. The stock’s 50 day moving average price is $71.86 and its two-hundred day moving average price is $75.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.21.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). Texas Capital Bancshares had a net margin of 5.04% and a return on equity of 9.39%. The business had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. On average, analysts anticipate that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

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.