TD Cowen Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $106.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target trimmed by TD Cowen from $109.00 to $106.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a hold rating on the bank’s stock.

Other research analysts have also issued reports about the company. Zacks Research lowered Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Piper Sandler raised their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Fundamental Research set a $110.00 target price on shares of Texas Capital Bancshares in a research report on Wednesday, July 1st. Royal Bank Of Canada upped their target price on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average target price of $105.83.

Texas Capital Bancshares Trading Down 0.3%

Texas Capital Bancshares stock opened at $98.42 on Monday. Texas Capital Bancshares has a 52 week low of $75.41 and a 52 week high of $108.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $4.28 billion, a PE ratio of 12.80, a PEG ratio of 1.46 and a beta of 0.67. The business’s 50-day simple moving average is $101.37 and its 200-day simple moving average is $99.60.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.01. The firm had revenue of $335.50 million during the quarter, compared to the consensus estimate of $333.37 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 EPS. Equities research analysts forecast that Texas Capital Bancshares will post 7.33 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.20 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. Texas Capital Bancshares’s dividend payout ratio (DPR) is currently 10.40%.

Insider Transactions at Texas Capital Bancshares

In related news, CEO Rob C. Holmes sold 49,500 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $101.22, for a total value of $5,010,390.00. Following the completion of the transaction, the chief executive officer directly owned 167,635 shares in the company, valued at approximately $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ellen Detrich sold 2,045 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $100.03, for a total value of $204,561.35. Following the completion of the transaction, the insider directly owned 7,529 shares of the company’s stock, valued at approximately $753,125.87. This trade represents a 21.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 104,145 shares of company stock valued at $10,570,584. 1.91% of the stock is owned by corporate insiders.

Institutional Trading of Texas Capital Bancshares

Several institutional investors have recently bought and sold shares of TCBI. FNY Investment Advisers LLC bought a new stake in Texas Capital Bancshares in the second quarter valued at $51,000. Bank of America Corp DE raised its stake in Texas Capital Bancshares by 13.6% during the first quarter. Bank of America Corp DE now owns 378,515 shares of the bank’s stock worth $35,914,000 after acquiring an additional 45,220 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Texas Capital Bancshares during the first quarter valued at $6,690,000. Amundi bought a new position in shares of Texas Capital Bancshares during the first quarter valued at $231,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Texas Capital Bancshares by 14.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $143,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.