BidaskClub Lowers Texas Capital Bancshares (TCBI) to Sell
Texas Capital Bancshares (NASDAQ:TCBI) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.
Several other equities analysts have also weighed in on TCBI. Piper Jaffray Companies restated a “hold” rating and issued a $86.00 price objective on shares of Texas Capital Bancshares in a report on Friday, September 1st. ValuEngine lowered shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Royal Bank of Canada started coverage on shares of Texas Capital Bancshares in a report on Wednesday, September 6th. They issued an “outperform” rating and a $90.00 price objective on the stock. Zacks Investment Research upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Tuesday, September 19th. Finally, Wedbush lowered shares of Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $88.00 to $87.00 in a report on Wednesday, October 4th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Texas Capital Bancshares presently has an average rating of “Hold” and a consensus price target of $91.87.
Texas Capital Bancshares (NASDAQ:TCBI) traded up $1.15 on Tuesday, hitting $90.35. 479,874 shares of the stock traded hands, compared to its average volume of 524,779. Texas Capital Bancshares has a twelve month low of $69.65 and a twelve month high of $95.20. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.27 and a quick ratio of 1.22. The company has a market capitalization of $4,490.00, a PE ratio of 23.43, a P/E/G ratio of 1.86 and a beta of 1.66.
In other Texas Capital Bancshares news, COO Peter B. Bartholow sold 3,500 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $87.52, for a total value of $306,320.00. Following the sale, the chief operating officer now directly owns 34,171 shares in the company, valued at $2,990,645.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP acquired a new stake in Texas Capital Bancshares in the third quarter worth $421,000. Neuberger Berman Group LLC raised its holdings in Texas Capital Bancshares by 5.1% in the third quarter. Neuberger Berman Group LLC now owns 364,356 shares of the bank’s stock worth $31,262,000 after purchasing an additional 17,778 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in Texas Capital Bancshares in the third quarter worth $1,530,000. California Public Employees Retirement System raised its holdings in Texas Capital Bancshares by 5.9% in the third quarter. California Public Employees Retirement System now owns 91,820 shares of the bank’s stock worth $7,878,000 after purchasing an additional 5,120 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in Texas Capital Bancshares by 439.5% in the third quarter. Cubist Systematic Strategies LLC now owns 14,027 shares of the bank’s stock worth $1,204,000 after purchasing an additional 11,427 shares during the period.
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Texas Capital Bancshares Company Profile
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.
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