Texas Capital Bancshares (NASDAQ:TCBI) Lowered to Hold at Truist Financial

Truist Financial cut shares of Texas Capital Bancshares (NASDAQ:TCBI - Free Report) from a buy rating to a hold rating in a report released on Monday, Marketbeat Ratings reports. They currently have $66.00 price objective on the bank's stock, down from their previous price objective of $72.00.

Other equities research analysts have also issued research reports about the company. UBS Group upped their price target on Texas Capital Bancshares from $56.00 to $57.00 and gave the company a sell rating in a research report on Tuesday, January 23rd. Royal Bank of Canada upped their price target on Texas Capital Bancshares from $65.00 to $68.00 and gave the company a sector perform rating in a research report on Friday, January 19th. Wedbush dropped their price objective on Texas Capital Bancshares from $70.00 to $68.00 and set a neutral rating on the stock in a research note on Friday, January 19th. Mizuho reissued a hold rating and issued a $66.00 price objective (down from $72.00) on shares of Texas Capital Bancshares in a research note on Monday. Finally, Citigroup dropped their price objective on Texas Capital Bancshares from $66.00 to $64.00 and set a neutral rating on the stock in a research note on Wednesday, March 13th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of Hold and a consensus target price of $64.09.

Texas Capital Bancshares Price Performance

TCBI stock traded down $1.96 during midday trading on Monday, reaching $59.59. 521,225 shares of the stock were exchanged, compared to its average volume of 469,900. The company has a fifty day moving average price of $59.88 and a 200 day moving average price of $59.20. Texas Capital Bancshares has a 52 week low of $42.79 and a 52 week high of $66.18. The stock has a market capitalization of $2.83 billion, a PE ratio of 16.83, a P/E/G ratio of 2.09 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results on Thursday, January 18th. The bank reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.24). Texas Capital Bancshares had a net margin of 10.56% and a return on equity of 7.28%. The company had revenue of $245.85 million during the quarter, compared to the consensus estimate of $251.96 million. During the same quarter last year, the firm posted $0.87 EPS. As a group, analysts expect that Texas Capital Bancshares will post 3.69 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Thomas E. Long acquired 2,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, with a total value of $117,560.00. Following the completion of the purchase, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Thomas E. Long acquired 2,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, with a total value of $117,560.00. Following the completion of the purchase, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert W. Stallings bought 5,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, January 22nd. The stock was acquired at an average cost of $18.95 per share, with a total value of $94,750.00. Following the completion of the acquisition, the director now owns 101,706 shares of the company's stock, valued at $1,927,328.70. The disclosure for this purchase can be found here. Insiders purchased a total of 28,000 shares of company stock valued at $612,850 over the last ninety days. 1.53% of the stock is currently owned by insiders.

Institutional Trading of Texas Capital Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the business. SummerHaven Investment Management LLC increased its position in shares of Texas Capital Bancshares by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank's stock valued at $849,000 after acquiring an additional 175 shares during the last quarter. FMR LLC increased its position in shares of Texas Capital Bancshares by 7.6% during the third quarter. FMR LLC now owns 2,747 shares of the bank's stock valued at $162,000 after acquiring an additional 194 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of Texas Capital Bancshares by 22.5% during the second quarter. Osaic Holdings Inc. now owns 1,088 shares of the bank's stock valued at $56,000 after acquiring an additional 200 shares during the last quarter. Retirement Systems of Alabama increased its position in Texas Capital Bancshares by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank's stock worth $3,887,000 after buying an additional 208 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Texas Capital Bancshares by 25.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,049 shares of the bank's stock worth $63,000 after buying an additional 210 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.