Shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $76.30.
A number of research firms have issued reports on TCBI. BidaskClub raised Texas Capital Bancshares from a “strong sell” rating to a “sell” rating in a research report on Friday. Zacks Investment Research downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research report on Tuesday, June 11th. Piper Jaffray Companies downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $71.50 to $64.50 in a research report on Friday, June 7th. Sanford C. Bernstein raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 28th. Finally, TheStreet raised Texas Capital Bancshares from a “c+” rating to a “b-” rating in a research report on Tuesday, April 30th.
Texas Capital Bancshares stock traded up $0.28 during mid-day trading on Friday, reaching $61.37. 1,125,506 shares of the company’s stock were exchanged, compared to its average volume of 517,274. The business has a fifty day simple moving average of $60.30. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.92 and a beta of 1.84. Texas Capital Bancshares has a one year low of $47.86 and a one year high of $99.95. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.30 and a quick ratio of 1.21.
In other news, Director Ian J. Turpin sold 3,977 shares of Texas Capital Bancshares stock in a transaction on Monday, May 20th. The stock was sold at an average price of $60.59, for a total value of $240,966.43. Following the completion of the transaction, the director now directly owns 4,632 shares in the company, valued at $280,652.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO C Keith Cargill purchased 3,000 shares of Texas Capital Bancshares stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $58.83 per share, with a total value of $176,490.00. Following the completion of the transaction, the chief executive officer now owns 120,847 shares of the company’s stock, valued at approximately $7,109,429.01. The disclosure for this purchase can be found here. Company insiders own 0.54% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TCBI. Vanguard Group Inc grew its position in shares of Texas Capital Bancshares by 2.6% during the third quarter. Vanguard Group Inc now owns 4,540,983 shares of the bank’s stock worth $375,312,000 after acquiring an additional 114,580 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Texas Capital Bancshares by 1.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 19,845 shares of the bank’s stock worth $1,014,000 after acquiring an additional 245 shares during the last quarter. FDx Advisors Inc. bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth about $205,000. Toronto Dominion Bank bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth about $74,000. Finally, BlackRock Inc. grew its position in shares of Texas Capital Bancshares by 2.7% during the fourth quarter. BlackRock Inc. now owns 4,543,746 shares of the bank’s stock worth $232,140,000 after acquiring an additional 120,183 shares during the last quarter. Institutional investors own 95.86% of the company’s stock.
Texas Capital Bancshares Company Profile
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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