Texas Capital Bancshares (TCBI) Rating Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a hold rating to a sell rating in a research note published on Tuesday morning.

A number of other research analysts have also issued reports on TCBI. Piper Jaffray Companies reiterated a hold rating and set a $86.00 target price on shares of Texas Capital Bancshares in a research report on Friday, September 1st. ValuEngine lowered Texas Capital Bancshares from a buy rating to a hold rating in a research report on Friday, September 1st. Royal Bank of Canada initiated coverage on Texas Capital Bancshares in a research report on Wednesday, September 6th. They set an outperform rating and a $90.00 target price on the stock. Zacks Investment Research upgraded Texas Capital Bancshares from a hold rating to a buy rating and set a $90.00 target price on the stock in a research report on Tuesday, September 19th. Finally, Wedbush lowered Texas Capital Bancshares from an outperform rating to a neutral rating and decreased their target price for the company from $88.00 to $87.00 in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Texas Capital Bancshares currently has a consensus rating of Hold and a consensus price target of $91.87.

Texas Capital Bancshares (NASDAQ:TCBI) opened at $92.00 on Tuesday. Texas Capital Bancshares has a 52-week low of $69.65 and a 52-week high of $95.20. The stock has a market capitalization of $4,396.91, a P/E ratio of 23.01, a PEG ratio of 1.83 and a beta of 1.66. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.22 and a current ratio of 1.27.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, October 18th. The bank reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Texas Capital Bancshares had a return on equity of 10.40% and a net margin of 22.50%. The firm had revenue of $204.40 million for the quarter, compared to analyst estimates of $214.08 million. During the same quarter last year, the firm posted $0.87 EPS. The business’s revenue was up 11.7% on a year-over-year basis. analysts expect that Texas Capital Bancshares will post 4.03 earnings per share for the current fiscal year.

In other Texas Capital Bancshares news, COO Peter B. Bartholow sold 3,500 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $87.52, for a total value of $306,320.00. Following the transaction, the chief operating officer now owns 34,171 shares in the company, valued at approximately $2,990,645.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.

A number of hedge funds have recently made changes to their positions in TCBI. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Texas Capital Bancshares in the 3rd quarter valued at $101,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Texas Capital Bancshares by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the bank’s stock valued at $156,000 after purchasing an additional 248 shares in the last quarter. Hilton Capital Management LLC purchased a new position in Texas Capital Bancshares in the 2nd quarter valued at $201,000. Cubist Systematic Strategies LLC purchased a new position in Texas Capital Bancshares in the 2nd quarter valued at $201,000. Finally, Rehmann Capital Advisory Group purchased a new position in Texas Capital Bancshares in the 3rd quarter valued at $201,000.

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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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