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

StockNews.com lowered shares of Texas Capital Bancshares (NASDAQ:TCBI) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

Other equities research analysts have also recently issued reports about the stock. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. 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 report on Friday, October 18th. Jefferies Financial Group lowered their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Citigroup restated a “sell” rating and issued a $60.00 target price on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $74.00 price target on shares of Texas Capital Bancshares in a report on Monday, September 9th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Texas Capital Bancshares has an average rating of “Hold” and an average price target of $74.00.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock opened at $76.80 on Tuesday. 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 business’s 50 day moving average price is $72.20 and its 200 day moving average price is $64.80. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 426.67, a PEG ratio of 0.73 and a beta of 1.13. Texas Capital Bancshares has a one year low of $53.16 and a one year high of $82.25.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the acquisition, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TCBI. AQR Capital Management LLC lifted its position in shares of Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after purchasing an additional 506,094 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after acquiring an additional 221,454 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth about $11,489,000. American Century Companies Inc. lifted its stake in Texas Capital Bancshares by 43.8% during the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after purchasing an additional 171,263 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Texas Capital Bancshares by 1,905.7% in the second quarter. SG Americas Securities LLC now owns 78,864 shares of the bank’s stock valued at $4,822,000 after purchasing an additional 74,932 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.