DA Davidson restated their neutral rating on shares of Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) in a report released on Wednesday, PriceTargets.com reports. DA Davidson also issued estimates for Texas Capital Bancshares' Q4 2022 earnings at $1.03 EPS, FY2022 earnings at $3.29 EPS and FY2023 earnings at $3.99 EPS.
TCBI has been the subject of several other reports. Bank of America lowered shares of Texas Capital Bancshares from a neutral rating to an underperform rating and decreased their price target for the company from $57.00 to $55.00 in a report on Thursday, September 8th. StockNews.com initiated coverage on shares of Texas Capital Bancshares in a report on Wednesday, October 12th. They issued a sell rating for the company. TheStreet raised shares of Texas Capital Bancshares from a c rating to a b- rating in a report on Wednesday, October 19th. Wedbush reaffirmed a neutral rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a report on Wednesday, September 28th. Finally, Truist Financial lifted their price objective on shares of Texas Capital Bancshares from $65.00 to $68.00 and gave the company a buy rating in a research report on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Texas Capital Bancshares presently has an average rating of Hold and an average target price of $62.38.
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Texas Capital Bancshares Price Performance
Shares of TCBI stock opened at $58.13 on Wednesday. The firm has a market cap of $2.90 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.32 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.03 and a quick ratio of 0.91. Texas Capital Bancshares has a 1-year low of $48.79 and a 1-year high of $71.60. The firm has a fifty day moving average of $58.36 and a two-hundred day moving average of $58.22.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last posted its quarterly earnings results on Wednesday, October 19th. The bank reported $0.74 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.29). Texas Capital Bancshares had a net
margin of 16.45% and a return on equity of 6.56%. The business had revenue of $264.41 million during the quarter, compared to analyst estimates of $258.56 million. During the same period last year, the firm posted $0.76 earnings per share. As a group, research analysts anticipate that Texas Capital Bancshares will post 3.06 earnings per share for the current fiscal year.
Insider Activity at Texas Capital Bancshares
In other news, Director Robert W. Stallings acquired 4,175 shares of the business's stock in a transaction that occurred on Monday, October 24th. The shares were purchased at an average cost of $56.55 per share, for a total transaction of $236,096.25. Following the transaction, the director now directly owns 172,000 shares in the company, valued at approximately $9,726,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert W. Stallings purchased 4,175 shares of the company's stock in a transaction on Monday, October 24th. The shares were bought at an average cost of $56.55 per share, for a total transaction of $236,096.25. Following the transaction, the director now owns 172,000 shares of the company's stock, valued at $9,726,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Stallings purchased 10,725 shares of the company's stock in a transaction on Friday, October 21st. The shares were bought at an average price of $55.58 per share, for a total transaction of $596,095.50. Following the completion of the transaction, the director now directly owns 167,825 shares in the company, valued at approximately $9,327,713.50. The disclosure for this purchase can be found here. Insiders have bought a total of 24,826 shares of company stock worth $1,198,707 in the last ninety days. 0.56% of the stock is owned by insiders.
Institutional Trading of Texas Capital Bancshares
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its stake in shares of Texas Capital Bancshares by 35.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 11,744 shares of the bank's stock worth $673,000 after purchasing an additional 3,078 shares during the last quarter. Profund Advisors LLC grew its stake in shares of Texas Capital Bancshares by 13.4% in the 1st quarter. Profund Advisors LLC now owns 4,460 shares of the bank's stock worth $256,000 after purchasing an additional 526 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Texas Capital Bancshares by 9.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 558,161 shares of the bank's stock worth $31,988,000 after purchasing an additional 48,477 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Texas Capital Bancshares in the 1st quarter worth approximately $261,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Texas Capital Bancshares by 52.2% in the 1st quarter. Bank of New York Mellon Corp now owns 842,157 shares of the bank's stock worth $48,262,000 after purchasing an additional 288,660 shares during the last quarter. 96.91% of the stock is currently owned by institutional investors.
About Texas Capital Bancshares
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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, and wealth management services.
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