Texas Capital Bancshares (NASDAQ:TCBI) Upgraded by TheStreet to B-

Texas Capital Bancshares (NASDAQ:TCBI) was upgraded by research analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued on Tuesday, April 30th, TheStreetRatingsTable reports.

Several other analysts have also recently commented on the stock. Wedbush cut shares of Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research note on Wednesday, March 27th. Jefferies Financial Group cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Barclays upgraded shares of Texas Capital Bancshares from an “equal weight” rating to an “overweight” rating and set a $70.00 target price on the stock in a research report on Thursday, January 10th. Zacks Investment Research upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, Compass Point cut shares of Texas Capital Bancshares from a “buy” rating to a “neutral” rating and set a $58.49 target price on the stock. in a research report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $84.54.

TCBI stock traded down $1.06 during mid-day trading on Tuesday, hitting $60.65. The company had a trading volume of 292,749 shares, compared to its average volume of 725,820. The stock has a market cap of $3.06 billion, a P/E ratio of 10.47, a PEG ratio of 0.91 and a beta of 1.83. Texas Capital Bancshares has a 12-month low of $47.86 and a 12-month high of $102.80. The company has a quick ratio of 1.21, a current ratio of 1.30 and a debt-to-equity ratio of 1.64.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $1.60 EPS for the quarter, topping the consensus estimate of $1.34 by $0.26. The business had revenue of $265.63 million for the quarter, compared to analysts’ expectations of $253.83 million. Texas Capital Bancshares had a net margin of 23.36% and a return on equity of 13.37%. During the same quarter in the previous year, the company earned $1.38 EPS. On average, analysts anticipate that Texas Capital Bancshares will post 6.45 EPS for the current fiscal year.

In other news, Director Steve Rosenberg sold 2,305 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $61.31, for a total transaction of $141,319.55. Following the transaction, the director now directly owns 35,008 shares in the company, valued at $2,146,340.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ian J. Turpin sold 1,294 shares of the stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $60.72, for a total transaction of $78,571.68. Following the transaction, the director now owns 8,102 shares in the company, valued at $491,953.44. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in TCBI. Dimensional Fund Advisors LP boosted its stake in Texas Capital Bancshares by 61.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,767,561 shares of the bank’s stock valued at $96,492,000 after acquiring an additional 675,065 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Texas Capital Bancshares by 2,986.2% in the fourth quarter. Two Sigma Investments LP now owns 695,098 shares of the bank’s stock worth $35,513,000 after buying an additional 672,575 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Texas Capital Bancshares by 109.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,036,454 shares of the bank’s stock worth $52,952,000 after buying an additional 542,759 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Texas Capital Bancshares in the fourth quarter worth $24,228,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Texas Capital Bancshares in the fourth quarter worth $21,453,000. Institutional investors own 98.17% 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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