Texas Capital Bancshares, Inc. (TCBI) Downgraded to Strong Sell at BidaskClub

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Monday.

Several other research analysts have also recently commented on TCBI. Stephens reiterated a “hold” rating on shares of Texas Capital Bancshares in a report on Thursday, April 20th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Texas Capital Bancshares in a report on Thursday, April 20th. Zacks Investment Research cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Barclays PLC restated a “hold” rating and issued a $75.00 target price (down previously from $78.00) on shares of Texas Capital Bancshares in a report on Friday, April 21st. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $80.00 target price (down previously from $85.00) on shares of Texas Capital Bancshares in a report on Saturday, April 22nd. 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’s stock. The company currently has an average rating of “Hold” and a consensus price target of $86.15.

Shares of Texas Capital Bancshares (TCBI) opened at 75.15 on Monday. The company’s 50-day moving average is $78.27 and its 200-day moving average is $80.13. Texas Capital Bancshares has a 52-week low of $48.01 and a 52-week high of $93.35. The stock has a market cap of $3.73 billion, a PE ratio of 20.86 and a beta of 1.67.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, July 19th. The bank reported $0.97 EPS for the quarter, topping the 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 company had revenue of $201.73 million during the quarter, compared to analysts’ expectations of $197.10 million. During the same quarter in the previous year, the business posted $0.78 EPS. Equities analysts anticipate that Texas Capital Bancshares will post $4.01 EPS for the current year.

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

A number of hedge funds have recently added to or reduced their stakes in TCBI. Teachers Advisors LLC increased its stake in Texas Capital Bancshares by 16.1% in the fourth quarter. Teachers Advisors LLC now owns 96,279 shares of the bank’s stock valued at $7,548,000 after buying an additional 13,326 shares during the period. Everence Capital Management Inc. acquired a new stake in Texas Capital Bancshares during the first quarter valued at approximately $287,000. Nisa Investment Advisors LLC increased its stake in Texas Capital Bancshares by 5.0% in the first quarter. Nisa Investment Advisors LLC now owns 21,620 shares of the bank’s stock valued at $1,804,000 after buying an additional 1,020 shares during the period. Retirement Systems of Alabama acquired a new stake in Texas Capital Bancshares during the first quarter valued at approximately $5,350,000. Finally, Nationwide Fund Advisors increased its stake in Texas Capital Bancshares by 28.6% in the first quarter. Nationwide Fund Advisors now owns 327,539 shares of the bank’s stock valued at $27,333,000 after buying an additional 72,749 shares during the period.

About Texas Capital Bancshares

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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