Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) from a hold rating to a buy rating in a report released on Tuesday, August 1st.

A number of other equities analysts have also weighed in on the company. Hovde Group increased their target price on Texas Capital Bancshares from $85.00 to $86.00 and gave the stock a market perform rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered Texas Capital Bancshares from a buy rating to a hold rating in a research note on Monday, July 31st. Stephens reissued a hold rating and set a $84.00 price target on shares of Texas Capital Bancshares in a research report on Thursday, July 20th. Jefferies Group LLC reissued a buy rating and set a $104.00 price target on shares of Texas Capital Bancshares in a research report on Friday, July 14th. Finally, BidaskClub downgraded Texas Capital Bancshares from a hold rating to a sell rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $86.15.

Shares of Texas Capital Bancshares (NASDAQ TCBI) opened at 74.70 on Tuesday. Texas Capital Bancshares has a 12 month low of $48.01 and a 12 month high of $93.35. The firm’s 50-day moving average price is $78.15 and its 200-day moving average price is $80.23. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 20.73 and a beta of 1.67.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $201.73 million for the quarter, compared to analyst estimates of $197.10 million. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. During the same quarter in the prior year, the company earned $0.78 earnings per share. On average, equities analysts anticipate that Texas Capital Bancshares will post $4.01 earnings per share for the current year.

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In other Texas Capital Bancshares news, insider C Keith Cargill acquired 3,000 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $74.15 per share, with a total value of $222,450.00. Following the transaction, the insider now owns 80,286 shares in the company, valued at approximately $5,953,206.90. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Peter B. Bartholow sold 4,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $74.52, for a total value of $298,080.00. Following the completion of the transaction, the chief financial officer now directly owns 37,671 shares of the company’s stock, valued at $2,807,242.92. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Texas Capital Bancshares by 19,441.6% in the first quarter. BlackRock Inc. now owns 5,594,948 shares of the bank’s stock worth $466,900,000 after buying an additional 5,566,317 shares during the last quarter. Vanguard Group Inc. increased its position in Texas Capital Bancshares by 2.5% in the second quarter. Vanguard Group Inc. now owns 4,053,255 shares of the bank’s stock worth $313,721,000 after buying an additional 98,473 shares during the period. State Street Corp increased its position in Texas Capital Bancshares by 48.4% in the first quarter. State Street Corp now owns 3,047,810 shares of the bank’s stock worth $254,339,000 after buying an additional 994,585 shares during the period. American Century Companies Inc. increased its position in Texas Capital Bancshares by 37.2% in the second quarter. American Century Companies Inc. now owns 1,619,357 shares of the bank’s stock worth $125,338,000 after buying an additional 438,887 shares during the period. Finally, Alliancebernstein L.P. increased its position in Texas Capital Bancshares by 4.7% in the second quarter. Alliancebernstein L.P. now owns 1,369,988 shares of the bank’s stock worth $106,037,000 after buying an additional 61,357 shares during the period.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.

To view ValuEngine’s full report, visit ValuEngine’s official website.