Texas Capital Bancshares (NASDAQ:TCBI) Downgraded by StockNews.com to “Sell”

Texas Capital Bancshares (NASDAQ:TCBI) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

TCBI has been the topic of several other research reports. Truist Financial raised their price target on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, October 21st. DA Davidson upped their target price on Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $77.00 to $82.00 in a research report on Friday, October 18th. Hovde Group lifted their price target on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Texas Capital Bancshares from $86.00 to $81.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.75.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock traded down $3.61 on Thursday, reaching $76.95. The stock had a trading volume of 891,303 shares, compared to its average volume of 506,186. Texas Capital Bancshares has a 1 year low of $54.68 and a 1 year high of $91.80. The company has a 50 day simple moving average of $81.95 and a 200 day simple moving average of $74.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $3.56 billion, a P/E ratio of 427.50, a price-to-earnings-growth ratio of 0.74 and a beta of 1.17.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. Equities research analysts expect that Texas Capital Bancshares will post 4.08 EPS for the current year.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCBI. Blue Trust Inc. raised its stake in Texas Capital Bancshares by 89.9% during the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after purchasing an additional 169 shares during the last quarter. Icon Wealth Advisors LLC bought a new stake in Texas Capital Bancshares during the 3rd quarter worth about $31,000. R Squared Ltd acquired a new position in Texas Capital Bancshares during the 4th quarter valued at about $41,000. Meeder Asset Management Inc. acquired a new position in Texas Capital Bancshares during the 3rd quarter valued at about $71,000. Finally, CWM LLC raised its position in shares of Texas Capital Bancshares by 69.8% in the 3rd quarter. CWM LLC now owns 1,611 shares of the bank’s stock valued at $115,000 after acquiring an additional 662 shares during the period. Institutional investors own 96.88% of the company’s stock.

About Texas Capital Bancshares

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.