Texas Capital Bancshares (NASDAQ:TCBI) was upgraded by equities research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage presently has a $87.00 price target on the bank’s stock, down from their previous price target of $108.00. Wedbush’s price objective would suggest a potential downside of 4.50% from the stock’s current price.
TCBI has been the topic of a number of other reports. Deutsche Bank raised their target price on shares of Texas Capital Bancshares from $93.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Zacks Investment Research downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Royal Bank of Canada reaffirmed a “buy” rating on shares of Texas Capital Bancshares in a research note on Friday, October 20th. Bank of America reaffirmed a “buy” rating and issued a $100.00 target price (up from $97.00) on shares of Texas Capital Bancshares in a research note on Thursday, October 19th. Finally, SunTrust Banks reiterated a “buy” rating and set a $95.00 price target on shares of Texas Capital Bancshares in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $91.87.
Shares of Texas Capital Bancshares (NASDAQ:TCBI) traded down $0.80 on Thursday, reaching $91.10. 368,500 shares of the company were exchanged, compared to its average volume of 527,980. The stock has a market capitalization of $4,560.68, a P/E ratio of 23.87, a P/E/G ratio of 1.90 and a beta of 1.66. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.27 and a quick ratio of 1.22. Texas Capital Bancshares has a 1-year low of $69.65 and a 1-year high of $95.20.
In other news, COO Peter B. Bartholow sold 3,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 34,171 shares in the company, valued at $2,990,645.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. 1st Global Advisors Inc. grew its holdings in shares of Texas Capital Bancshares by 1.1% in the second quarter. 1st Global Advisors Inc. now owns 6,979 shares of the bank’s stock worth $540,000 after purchasing an additional 77 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Texas Capital Bancshares by 0.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 12,631 shares of the bank’s stock worth $978,000 after purchasing an additional 96 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Texas Capital Bancshares by 2.7% in the second quarter. Teacher Retirement System of Texas now owns 4,006 shares of the bank’s stock worth $310,000 after purchasing an additional 107 shares during the last quarter. Peloton Wealth Strategists grew its holdings in shares of Texas Capital Bancshares by 0.9% in the second quarter. Peloton Wealth Strategists now owns 17,050 shares of the bank’s stock worth $1,320,000 after purchasing an additional 150 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Texas Capital Bancshares by 2.5% in the second quarter. Amalgamated Bank now owns 7,144 shares of the bank’s stock worth $553,000 after purchasing an additional 175 shares during the last quarter.
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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.
