Texas Capital Bancshares (NASDAQ:TCBI) Upgraded to “Neutral” at UBS Group

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UBS Group upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a sell rating to a neutral rating in a research note released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has $58.00 price objective on the bank’s stock, up from their prior price objective of $54.00.

TCBI has been the topic of a number of other reports. Keefe, Bruyette & Woods raised shares of Texas Capital Bancshares from a market perform rating to an outperform rating and set a $72.00 price objective on the stock in a report on Wednesday, December 11th. Bank of America lowered shares of Texas Capital Bancshares from a buy rating to a neutral rating and set a $66.00 price objective on the stock. in a report on Wednesday, December 18th. ValuEngine raised shares of Texas Capital Bancshares from a sell rating to a hold rating in a report on Saturday, January 4th. Wedbush dropped their price objective on shares of Texas Capital Bancshares from $66.00 to $61.00 and set a neutral rating on the stock in a report on Thursday, January 23rd. Finally, Royal Bank of Canada dropped their price objective on shares of Texas Capital Bancshares from $66.00 to $59.00 and set a sector perform rating on the stock in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $62.33.

Shares of TCBI stock traded down $1.91 during trading hours on Thursday, reaching $56.25. 457,400 shares of the company’s stock were exchanged, compared to its average volume of 521,494. The stock’s 50 day moving average is $55.60 and its 200-day moving average is $56.08. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 1.28 and a beta of 1.78. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 1.04. Texas Capital Bancshares has a fifty-two week low of $50.77 and a fifty-two week high of $66.61.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.13). The business had revenue of $266.15 million for the quarter, compared to analyst estimates of $256.26 million. Texas Capital Bancshares had a return on equity of 12.66% and a net margin of 22.15%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share. Equities analysts anticipate that Texas Capital Bancshares will post 5.56 EPS for the current year.

Large investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Texas Capital Bancshares by 146.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,182 shares of the bank’s stock valued at $66,000 after purchasing an additional 703 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Texas Capital Bancshares in the fourth quarter worth about $74,000. Aigen Investment Management LP acquired a new position in shares of Texas Capital Bancshares in the fourth quarter worth about $75,000. Point72 Hong Kong Ltd acquired a new position in shares of Texas Capital Bancshares in the fourth quarter worth about $80,000. Finally, NumerixS Investment Technologies Inc raised its position in shares of Texas Capital Bancshares by 250.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,800 shares of the bank’s stock worth $159,000 after acquiring an additional 2,000 shares during the period. 93.60% of the stock is currently owned by institutional investors.

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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