Texas Capital Bancshares, Inc. (TCBI) Lowered to “Hold” at Zacks Investment Research

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, July 13th.

According to Zacks, “Texas Capital’s shares outperformed the Zacks categorized Southwest Banks industry in the last one year. The company’s diversified fee income sources should continue driving its top-line growth. Moreover, Texas Capital’s strong capital position keeps it well poised for opportunistic expansions. Further, the recent Fed interest rate hike expected to ease the pressure on margin. However, lack of geographical diversification and significantly mounting expenses keep us apprehensive. Nevertheless, the expectation of lesser regulations will act as a tailwind for the company in the medium term.”

Several other research analysts have also recently issued reports on the stock. Raymond James Financial, Inc. raised shares of Texas Capital Bancshares from an “outperform” rating to a “strong-buy” rating and set a $98.00 target price for the company in a report on Thursday, April 6th. Jefferies Group LLC reissued a “buy” rating and set a $102.00 target price on shares of Texas Capital Bancshares in a report on Tuesday, March 21st. Wedbush raised shares of Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $79.00 to $86.00 in a report on Monday, May 15th. BidaskClub raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $80.00 price objective (up previously from $75.00) on shares of Texas Capital Bancshares in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Texas Capital Bancshares presently has an average rating of “Hold” and a consensus price target of $86.15.

Texas Capital Bancshares (TCBI) traded down 0.27% during midday trading on Thursday, hitting $74.70. The company’s stock had a trading volume of 532,113 shares. The company has a market cap of $3.71 billion, a PE ratio of 20.73 and a beta of 1.67. Texas Capital Bancshares has a 52-week low of $48.01 and a 52-week high of $93.35. The stock has a 50 day moving average of $78.13 and a 200 day moving average of $80.25.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a net margin of 21.84% and a return on equity of 10.01%. The firm had revenue of $201.73 million during the quarter, compared to analysts’ expectations of $197.10 million. During the same quarter last year, the company posted $0.78 earnings per share. On average, equities analysts expect that Texas Capital Bancshares will post $4.01 EPS for the current year.

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In related news, insider C Keith Cargill purchased 3,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $74.15 per share, with a total value of $222,450.00. Following the purchase, the insider now owns 80,286 shares of the company’s stock, valued at $5,953,206.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Peter B. Bartholow sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $74.52, for a total transaction of $298,080.00. Following the completion of the sale, the chief financial officer now directly owns 37,671 shares in the company, valued at $2,807,242.92. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Sapience Investments LLC acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at $8,909,000. Suntrust Banks Inc. increased its stake in shares of Texas Capital Bancshares by 5.0% in the second quarter. Suntrust Banks Inc. now owns 4,674 shares of the bank’s stock valued at $360,000 after buying an additional 223 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Texas Capital Bancshares by 0.7% in the second quarter. California Public Employees Retirement System now owns 86,700 shares of the bank’s stock valued at $6,711,000 after buying an additional 600 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Texas Capital Bancshares by 2.5% in the second quarter. Vanguard Group Inc. now owns 4,053,255 shares of the bank’s stock valued at $313,721,000 after buying an additional 98,473 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Texas Capital Bancshares by 3.8% in the second quarter. Northern Trust Corp now owns 1,177,515 shares of the bank’s stock valued at $91,140,000 after buying an additional 42,769 shares during the last quarter.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.

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