Texas Capital Bancshares (NASDAQ:TCBI) Downgraded by Piper Sandler to Neutral

Piper Sandler lowered shares of Texas Capital Bancshares (NASDAQ:TCBI) from an overweight rating to a neutral rating in a report issued on Friday, Marketbeat Ratings reports. They currently have $82.00 target price on the bank’s stock, up from their prior target price of $77.00.

Several other equities research analysts also recently issued reports on TCBI. Truist Financial lifted their price objective on Texas Capital Bancshares from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a report on Monday, September 9th. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $51.00 to $77.00 in a report on Monday, September 9th. Wedbush lifted their price objective on Texas Capital Bancshares from $70.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Finally, Jefferies Financial Group dropped their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $73.19.

Texas Capital Bancshares Stock Performance

Texas Capital Bancshares stock opened at $79.02 on Friday. The stock’s 50 day moving average price is $69.13 and its 200 day moving average price is $63.45. The firm has a market capitalization of $3.69 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. Texas Capital Bancshares has a one year low of $52.89 and a one year high of $82.25.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The business had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. During the same quarter in the prior year, the firm earned $1.33 earnings per share. As a group, sell-side analysts expect that Texas Capital Bancshares will post 3.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert W. Stallings acquired 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the purchase, the director now directly owns 31,294 shares in the company, valued at $640,275.24. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Robert W. Stallings acquired 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the purchase, the director now directly owns 31,294 shares in the company, valued at $640,275.24. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert W. Stallings purchased 4,000 shares of Texas Capital Bancshares stock in a transaction on Thursday, July 25th. The shares were acquired at an average price of $20.62 per share, with a total value of $82,480.00. Following the transaction, the director now directly owns 12,794 shares in the company, valued at $263,812.28. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 43,500 shares of company stock worth $876,400 in the last three months. 0.99% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Texas Capital Bancshares by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock worth $315,927,000 after acquiring an additional 68,211 shares during the period. Wellington Management Group LLP boosted its position in Texas Capital Bancshares by 97.9% during the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after acquiring an additional 547,336 shares during the period. AQR Capital Management LLC boosted its position in Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after acquiring an additional 506,094 shares during the period. American Century Companies Inc. boosted its position in Texas Capital Bancshares by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after acquiring an additional 171,263 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Texas Capital Bancshares by 42.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after buying an additional 161,643 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

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.