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.
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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