Texas Capital Bancshares (NASDAQ:TCBI) Shares Down 4.4% – Should You Sell?

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) dropped 4.4% during trading on Thursday . The stock traded as low as $77.34 and last traded at $77.03. Approximately 476,901 shares were traded during trading, an increase of 0% from the average daily volume of 475,097 shares. The stock had previously closed at $80.56.

Analyst Ratings Changes

A number of research firms recently issued reports on TCBI. Barclays increased their target price on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. StockNews.com lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Thursday. Truist Financial upped their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. DA Davidson reduced their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a report on Friday. Finally, Wedbush reissued a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.27.

Texas Capital Bancshares Stock Up 0.6 %

The company’s 50 day simple moving average is $81.75 and its 200-day simple moving average is $74.35. 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 firm has a market capitalization of $3.58 billion, a PE ratio of 430.28, a PEG ratio of 0.73 and a beta of 1.17.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. On average, analysts forecast that Texas Capital Bancshares, Inc. will post 4.08 EPS for the current fiscal year.

Institutional Trading of Texas Capital Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in 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 valued at $65,219,000 after acquiring an additional 506,094 shares during the period. Millennium Management LLC increased its stake 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 worth $22,767,000 after acquiring an additional 221,454 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Texas Capital Bancshares by 15.4% during the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after purchasing an additional 150,301 shares during the last quarter. Jane Street Group LLC boosted its holdings in Texas Capital Bancshares by 107.2% in the third quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock worth $9,481,000 after acquiring an additional 68,632 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its stake in Texas Capital Bancshares by 32.5% during the 4th quarter. Hodges Capital Management Inc. now owns 252,973 shares of the bank’s stock valued at $19,782,000 after purchasing an additional 62,030 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

About Texas Capital Bancshares

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.