Texas Capital Bancshares (NASDAQ:TCBI) Rating Increased to Hold at TD Cowen

Key Points

• TD Cowen has upgraded Texas Capital Bancshares (NASDAQ:TCBI) to a “hold” rating, reflecting the company's recent performance in the banking sector.
• The stock has received various ratings from other analysts, with a consensus average rating of "Hold" and a target price of $84.00.
• Texas Capital Bancshares reported earnings of $1.63 per share, exceeding expectations and reflecting a significant increase from $0.80 per share in the same quarter last year.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) was upgraded by research analysts at TD Cowen to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

TCBI has been the topic of a number of other research reports. Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Barclays lifted their price objective on Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods lifted their price objective on Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Citigroup boosted their target price on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. boosted their target price on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of "Hold" and a consensus target price of $84.00.

Texas Capital Bancshares Trading Up 0.5%

Shares of NASDAQ:TCBI opened at $86.44 on Thursday. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 0.71 and a beta of 0.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. The stock's 50-day simple moving average is $85.33 and its two-hundred day simple moving average is $77.88. Texas Capital Bancshares has a 52-week low of $59.37 and a 52-week high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.35. The business had revenue of $307.46 million for the quarter, compared to analysts' expectations of $298.90 million. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.During the same period last year, the firm posted $0.80 earnings per share. Analysts expect that Texas Capital Bancshares will post 5.84 EPS for the current year.

Institutional Investors Weigh In On Texas Capital Bancshares

Hedge funds have recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in shares of Texas Capital Bancshares by 1,089.8% in the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after buying an additional 534 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of Texas Capital Bancshares in the 2nd quarter worth $52,000. EverSource Wealth Advisors LLC raised its position in shares of Texas Capital Bancshares by 452.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 746 shares of the bank's stock worth $59,000 after acquiring an additional 611 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Texas Capital Bancshares by 127.0% in the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock worth $62,000 after acquiring an additional 465 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Texas Capital Bancshares in the 1st quarter worth $70,000. 96.88% of the stock is currently 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.

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