Texas Capital Bancshares (NASDAQ:TCBI) Stock Rating Upgraded by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday, December 11th, Briefing.com Automated Import reports. The firm currently has $72.00 target price on the bank’s stock.

Several other equities analysts have also commented on the stock. ValuEngine upgraded shares of Texas Capital Bancshares from a sell rating to a hold rating in a research report on Tuesday, December 3rd. Stephens reaffirmed a hold rating and issued a $56.00 price objective on shares of Texas Capital Bancshares in a research report on Thursday, October 17th. Raymond James cut shares of Texas Capital Bancshares from an outperform rating to a market perform rating in a research note on Thursday, August 29th. TheStreet lowered shares of Texas Capital Bancshares from a b- rating to a c+ rating in a report on Friday, August 30th. Finally, Royal Bank of Canada lowered shares of Texas Capital Bancshares from an outperform rating to a sector perform rating and set a $66.00 price objective for the company. in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $62.69.

Texas Capital Bancshares stock traded down $0.54 during mid-day trading on Wednesday, reaching $55.66. The company’s stock had a trading volume of 1,305,284 shares, compared to its average volume of 637,913. The company has a market capitalization of $2.83 billion, a P/E ratio of 9.61, a PEG ratio of 1.25 and a beta of 1.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.20. Texas Capital Bancshares has a 12-month low of $50.77 and a 12-month high of $66.61. The firm’s fifty day moving average price is $58.40 and its two-hundred day moving average price is $57.23.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, October 16th. The bank reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.21. The firm had revenue of $272.47 million for the quarter, compared to the consensus estimate of $262.12 million. Texas Capital Bancshares had a net margin of 22.29% and a return on equity of 12.95%. During the same quarter in the prior year, the firm posted $1.65 earnings per share. On average, research analysts predict that Texas Capital Bancshares will post 6.3 EPS for the current fiscal year.

In other news, Director Steve Rosenberg sold 1,997 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $55.48, for a total transaction of $110,793.56. Following the sale, the director now owns 36,115 shares of the company’s stock, valued at $2,003,660.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Savant Capital LLC purchased a new position in Texas Capital Bancshares in the second quarter valued at approximately $63,000. Tower Research Capital LLC TRC increased its stake in Texas Capital Bancshares by 1,637.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,251 shares of the bank’s stock valued at $76,000 after purchasing an additional 1,179 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Texas Capital Bancshares in the second quarter valued at approximately $87,000. Kavar Capital Partners LLC purchased a new position in Texas Capital Bancshares in the second quarter valued at approximately $123,000. Finally, Point72 Asset Management L.P. purchased a new position in Texas Capital Bancshares in the second quarter valued at approximately $210,000. Hedge funds and other institutional investors own 93.44% 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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Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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