Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts hold a neutral view: Texas Capital Bancshares has an average “Hold” rating from 13 analysts, with a consensus 12-month price target of $105.83 versus the reported share price of $98.64.
• Quarterly results modestly exceeded expectations: The bank reported EPS of $1.88 and revenue of $335.5 million, beating estimates, while revenue increased 9.1% year over year.
• Investors received a quarterly dividend: The company declared a $0.20-per-share dividend, equivalent to $0.80 annually and a 0.8% yield; institutional investors own 96.88% of the stock.

Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) has earned an average rating of "Hold" from the thirteen ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $105.8333.

A number of equities research analysts have recently issued reports on the company. Stephens reduced their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Barclays upgraded 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 research note on Monday, August 3rd. TD Cowen lowered their price target on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating on the stock in a research report on Monday, July 27th. Citigroup lifted their price objective on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Finally, Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, August 29th.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, insider Anna Alvarado sold 3,500 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total transaction of $353,325.00. Following the transaction, the insider owned 23,810 shares in the company, valued at $2,403,619.50. This trade represents a 12.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ellen Detrich sold 2,045 shares of Texas Capital Bancshares stock in a transaction on Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the completion of the transaction, the insider directly owned 7,529 shares of the company's stock, valued at $753,125.87. This represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.91% of the company's stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Large investors have recently bought and sold shares of the company. Corient Private Wealth LP raised its position in shares of Texas Capital Bancshares by 30.2% in the 2nd quarter. Corient Private Wealth LP now owns 25,566 shares of the bank's stock valued at $2,640,000 after buying an additional 5,937 shares in the last quarter. Amundi boosted its position in shares of Texas Capital Bancshares by 43.7% during the 2nd quarter. Amundi now owns 3,504 shares of the bank's stock worth $362,000 after acquiring an additional 1,066 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $1,683,000. California State Teachers Retirement System increased its stake in Texas Capital Bancshares by 9,949.4% in the second quarter. California State Teachers Retirement System now owns 5,568,296 shares of the bank's stock valued at $574,982,000 after acquiring an additional 5,512,887 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in Texas Capital Bancshares in the second quarter valued at approximately $34,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $98.64 on Monday. The firm has a 50 day moving average of $100.67 and a 200-day moving average of $99.31. The stock has a market capitalization of $4.29 billion, a PE ratio of 12.83, a PEG ratio of 1.20 and a beta of 0.66. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares has a 12 month low of $75.41 and a 12 month high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, topping the consensus estimate of $1.87 by $0.01. The business had revenue of $335.50 million during the quarter, compared to the consensus estimate of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. Texas Capital Bancshares's revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.63 EPS. On average, equities research analysts predict that Texas Capital Bancshares will post 7.39 EPS for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares's payout ratio is presently 10.40%.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source