Texas Capital Bancshares (NASDAQ:TCBI) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Texas Capital Bancshares from “sell” to “hold.” The broader analyst consensus is also “Hold,” with four Buy, eight Hold, and one Sell rating and an average price target of $105.83.
• Texas Capital Bancshares reported quarterly EPS of $1.88, slightly ahead of estimates, while revenue rose 9.1% year over year to $335.5 million.
• Company insiders sold 104,145 shares worth approximately $10.6 million over the past 90 days, while institutional investors own a substantial 96.88% of the stock.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Several other analysts have also recently commented on the stock. Stephens decreased their price objective on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 1st. Fundamental Research set a $110.00 target price on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. Weiss Ratings restated a "buy (b)" rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Finally, Barclays raised shares of Texas Capital Bancshares from an "underweight" rating to an "equal weight" rating and set a $100.00 price target on the stock in a report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $105.83.

Texas Capital Bancshares Trading Up 0.6%

Texas Capital Bancshares stock opened at $98.64 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares has a 52 week low of $75.41 and a 52 week high of $108.92. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 1.19 and a beta of 0.68. The stock has a 50-day moving average price of $101.17 and a 200 day moving average price of $99.55.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.87 by $0.01. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The firm had revenue of $335.50 million for the quarter, compared to analyst estimates of $333.37 million. During the same quarter in the prior year, the firm earned $1.63 earnings per share. Texas Capital Bancshares's revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts anticipate that Texas Capital Bancshares will post 7.39 EPS for the current year.

Insider Transactions at Texas Capital Bancshares

In related news, CEO Rob C. Holmes sold 49,500 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the sale, the chief executive officer directly owned 167,635 shares of the company's stock, valued at approximately $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ellen Detrich sold 2,045 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $100.03, for a total transaction of $204,561.35. Following the sale, the insider directly owned 7,529 shares in the company, valued at $753,125.87. This trade represents a 21.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 104,145 shares of company stock valued at $10,570,584 in the last 90 days. 1.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Evolve Private Wealth LLC grew its position in shares of Texas Capital Bancshares by 1.7% during the 1st quarter. Evolve Private Wealth LLC now owns 5,987 shares of the bank's stock valued at $568,000 after acquiring an additional 98 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Texas Capital Bancshares by 2.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,079 shares of the bank's stock valued at $550,000 after purchasing an additional 135 shares in the last quarter. Root Financial Partners LLC raised its holdings in Texas Capital Bancshares by 85.2% in the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock worth $31,000 after purchasing an additional 150 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Texas Capital Bancshares by 14.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank's stock worth $143,000 after purchasing an additional 189 shares during the period. Finally, Inspire Investing LLC boosted its position in Texas Capital Bancshares by 5.0% during the first quarter. Inspire Investing LLC now owns 5,399 shares of the bank's stock worth $512,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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