Texas Capital Bancshares (TCBI) Cut to Neutral at Compass Point

Compass Point cut shares of Texas Capital Bancshares (NASDAQ:TCBI) from a buy rating to a neutral rating in a research report released on Thursday morning, Benzinga reports. Compass Point currently has $58.49 target price on the bank’s stock.

A number of other equities analysts have also issued reports on TCBI. Stephens restated a hold rating and issued a $59.00 target price on shares of Texas Capital Bancshares in a research note on Wednesday, December 19th. Zacks Investment Research lowered Texas Capital Bancshares from a hold rating to a sell rating in a research note on Wednesday, December 19th. Jefferies Financial Group lowered Texas Capital Bancshares from a buy rating to a hold rating in a research note on Tuesday, January 8th. Barclays upgraded Texas Capital Bancshares from an equal weight rating to an overweight rating and set a $70.00 target price for the company in a research note on Thursday, January 10th. Finally, Wedbush lowered Texas Capital Bancshares from an outperform rating to a neutral rating and set a $65.00 target price for the company. in a research note on Wednesday, March 27th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $87.75.

Texas Capital Bancshares stock opened at $62.63 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $2.91 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 0.90 and a beta of 1.77. Texas Capital Bancshares has a 1-year low of $47.86 and a 1-year high of $103.05.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.26. The firm had revenue of $265.63 million during the quarter, compared to analysts’ expectations of $253.83 million. Texas Capital Bancshares had a return on equity of 13.35% and a net margin of 24.02%. During the same quarter last year, the firm earned $1.38 EPS. As a group, equities research analysts expect that Texas Capital Bancshares will post 6.24 EPS for the current fiscal year.

In other Texas Capital Bancshares news, Director Ian J. Turpin sold 1,294 shares of Texas Capital Bancshares stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $60.72, for a total transaction of $78,571.68. Following the completion of the transaction, the director now owns 8,102 shares in the company, valued at approximately $491,953.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steve Rosenberg sold 2,305 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $61.31, for a total value of $141,319.55. Following the transaction, the director now owns 35,008 shares of the company’s stock, valued at approximately $2,146,340.48. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JOYN Advisors Inc. raised its stake in shares of Texas Capital Bancshares by 1,445.8% during the 4th quarter. JOYN Advisors Inc. now owns 912 shares of the bank’s stock valued at $47,000 after buying an additional 853 shares during the last quarter. JCSD Capital LLC purchased a new position in shares of Texas Capital Bancshares during the 4th quarter valued at about $51,000. Toronto Dominion Bank purchased a new position in shares of Texas Capital Bancshares during the 4th quarter valued at about $74,000. First Interstate Bank raised its stake in shares of Texas Capital Bancshares by 39.3% during the 4th quarter. First Interstate Bank now owns 2,090 shares of the bank’s stock valued at $107,000 after buying an additional 590 shares during the last quarter. Finally, FMR LLC purchased a new position in shares of Texas Capital Bancshares during the 3rd quarter valued at about $129,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

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Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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