Texas Capital Bancshares (NASDAQ:TCBI) Given Hold (C) Rating at Weiss Ratings

Key Points

• Texas Capital Bancshares has received a "hold (c)" rating from Weiss Ratings, with multiple analysts issuing similar ratings, creating a consensus average rating of "Hold" and a price target of $84.23.
• After recently increasing target prices, Citigroup and JPMorgan Chase assigned sell and underweight ratings, respectively, indicating cautious sentiment among analysts regarding the stock's performance.
• The bank reported a quarterly earnings per share of $1.63, exceeding expectations and representing significant growth over the prior year, when it recorded $0.80 EPS.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report)'s stock had its "hold (c)" rating reiterated by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other analysts have also commented on the stock. Cowen initiated coverage on shares of Texas Capital Bancshares in a research note on Wednesday, September 24th. They set a "hold" rating for the company. Citigroup increased their target price on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. increased their target price on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, TD Cowen raised shares of Texas Capital Bancshares to a "hold" rating in a research note on Thursday, September 25th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $84.23.

Texas Capital Bancshares Trading Down 0.4%

Shares of NASDAQ:TCBI opened at $86.25 on Wednesday. The company has a 50 day moving average of $84.98 and a 200-day moving average of $78.58. The firm has a market cap of $3.95 billion, a P/E ratio of 34.23, a P/E/G ratio of 0.71 and a beta of 0.67. Texas Capital Bancshares has a twelve month low of $59.37 and a twelve month high of $94.61. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The company had revenue of $307.46 million during the quarter, compared to analyst estimates of $298.90 million. During the same period in the prior year, the business posted $0.80 EPS. As a group, analysts anticipate that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Texas Capital Bancshares

Large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Texas Capital Bancshares during the first quarter valued at approximately $528,000. Texas Capital Bank Wealth Management Services Inc increased its stake in Texas Capital Bancshares by 2,249.3% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank's stock valued at $18,630,000 after buying an additional 238,785 shares during the period. Intech Investment Management LLC increased its stake in Texas Capital Bancshares by 22.1% in the 1st quarter. Intech Investment Management LLC now owns 29,790 shares of the bank's stock valued at $2,225,000 after buying an additional 5,393 shares during the period. Edgestream Partners L.P. increased its stake in Texas Capital Bancshares by 28.8% in the 1st quarter. Edgestream Partners L.P. now owns 131,139 shares of the bank's stock valued at $9,796,000 after buying an additional 29,341 shares during the period. Finally, Bessemer Group Inc. increased its stake in Texas Capital Bancshares by 4.2% in the 1st quarter. Bessemer Group Inc. now owns 247,416 shares of the bank's stock valued at $18,482,000 after buying an additional 9,953 shares during the period. Institutional investors and hedge funds own 96.88% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.