TD Cowen Issues Pessimistic Forecast for Texas Capital Bancshares (NASDAQ:TCBI) Stock Price

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective lowered by stock analysts at TD Cowen from $106.00 to $100.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the bank’s stock. TD Cowen’s price objective would indicate a potential upside of 7.56% from the company’s previous close.

TCBI has been the subject of a number of other reports. Wall Street Zen raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Stephens reduced their target price on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Citigroup lowered their price target on Texas Capital Bancshares from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Capital Bancshares in a research note on Friday. Finally, Barclays upgraded Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price objective for the company in a report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus target price of $104.50.

Texas Capital Bancshares Stock Down 0.8%

Shares of NASDAQ TCBI opened at $92.97 on Monday. Texas Capital Bancshares has a 12 month low of $75.41 and a 12 month high of $108.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.14 and a beta of 0.63. The business has a 50-day moving average of $97.50 and a 200-day moving average of $99.19.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The business had revenue of $335.50 million for the quarter, compared to the consensus estimate of $333.37 million. During the same period last year, the firm posted $1.63 earnings per share. Texas Capital Bancshares’s quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that Texas Capital Bancshares will post 7.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other news, insider Ellen Detrich sold 2,045 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the transaction, the insider owned 7,529 shares in the company, valued at approximately $753,125.87. This trade represents a 21.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.91% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC lifted its stake in Texas Capital Bancshares by 85.2% in the first quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock worth $31,000 after acquiring an additional 150 shares during the period. Ameritas Advisory Services LLC bought a new position in Texas Capital Bancshares in the 2nd quarter worth $34,000. FNY Investment Advisers LLC bought a new position in Texas Capital Bancshares in the 2nd quarter worth $51,000. Westpac Banking Corp purchased a new stake in shares of Texas Capital Bancshares in the 1st quarter worth about $58,000. Finally, State of Wyoming purchased a new stake in shares of Texas Capital Bancshares in the 2nd quarter worth about $73,000. Institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank provides banking and financial services primarily to businesses, entrepreneurs, professionals and high-net-worth individuals.

Its offerings include commercial and corporate banking, lending, treasury and cash-management services, investment banking, capital markets solutions, private wealth management and personal banking products. Texas Capital Bank also serves specialized industries and markets through expertise in areas such as real estate, energy, technology and healthcare.

Founded in 1998, Texas Capital Bank has expanded from its Texas roots to serve clients across the United States, with a particular focus on major Texas business centers.