Texas Capital Bancshares (NASDAQ:TCBI) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a sell rating to a hold rating in a research report report published on Wednesday, ValuEngine reports.

A number of other equities research analysts also recently issued reports on the company. UBS Group downgraded Texas Capital Bancshares from a neutral rating to a sell rating and reduced their price target for the stock from $62.00 to $52.00 in a research report on Monday, August 5th. BidaskClub raised Texas Capital Bancshares from a strong sell rating to a sell rating in a research report on Thursday, September 12th. Zacks Investment Research downgraded Texas Capital Bancshares from a hold rating to a sell rating and set a $60.00 price target on the stock. in a research report on Thursday, September 19th. Raymond James downgraded Texas Capital Bancshares from an outperform rating to a market perform rating in a research report on Thursday, August 29th. Finally, Piper Jaffray Companies downgraded Texas Capital Bancshares from an overweight rating to a neutral rating and reduced their price target for the stock from $71.50 to $64.50 in a research report on Friday, June 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Texas Capital Bancshares has a consensus rating of Hold and a consensus price target of $64.70.

Shares of NASDAQ TCBI traded up $0.23 during trading hours on Wednesday, reaching $52.55. 764,022 shares of the stock were exchanged, compared to its average volume of 657,827. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 1.11 and a beta of 1.88. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.21 and a current ratio of 1.26. Texas Capital Bancshares has a 52 week low of $47.86 and a 52 week high of $83.46. The stock’s fifty day simple moving average is $54.54 and its 200 day simple moving average is $58.49.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, July 17th. The bank reported $1.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.03). The firm had revenue of $267.92 million for the quarter, compared to the consensus estimate of $267.15 million. Texas Capital Bancshares had a return on equity of 13.29% and a net margin of 22.88%. During the same quarter last year, the business posted $1.38 EPS. Research analysts predict that Texas Capital Bancshares will post 5.94 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of TCBI. Geode Capital Management LLC grew its position in Texas Capital Bancshares by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 524,855 shares of the bank’s stock worth $26,814,000 after buying an additional 49,522 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Texas Capital Bancshares by 40.1% in the 1st quarter. Raymond James & Associates now owns 63,862 shares of the bank’s stock valued at $3,486,000 after purchasing an additional 18,295 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Texas Capital Bancshares by 1.3% in the 1st quarter. New York State Common Retirement Fund now owns 96,700 shares of the bank’s stock valued at $5,279,000 after purchasing an additional 1,200 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Texas Capital Bancshares by 145.8% in the 1st quarter. US Bancorp DE now owns 8,555 shares of the bank’s stock valued at $467,000 after purchasing an additional 5,074 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Texas Capital Bancshares by 3.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 31,232 shares of the bank’s stock valued at $1,704,000 after purchasing an additional 994 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: What is required to own or exchange cryptocurrency?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

Receive News & Ratings for Texas Capital Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Capital Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.