Today’s Rating: Is Texas Capital Bancshares (NASDAQ:TCBI) a Sell? How Analyst Rate it? Why DA Davidson Downgraded The Stock

November 30, 2016 - By Dolores Ford

Today's Rating:  Is Texas Capital Bancshares (NASDAQ:TCBI) a Sell? How Analyst Rate it? Why DA Davidson Downgraded The Stock

Texas Capital Bancshares (NASDAQ:TCBI) Downgrade

In a a research report sent to clients and investors on 30 November, DA Davidson has cut Texas Capital Bancshares (NASDAQ:TCBI) stock to a Neutral and has set a 12month TP at $78.00. TCBI’s old rating was Buy.

Texas Capital Bancshares Inc (NASDAQ:TCBI) Ratings Coverage

Out of 16 analysts covering Texas Capital Bancshares Inc. (NASDAQ:TCBI), 4 rate it a “Buy”, 0 “Sell”, while 12 “Hold”. This means 25% are positive. $67 is the highest target while $38 is the lowest. The $53.15 average target is -26.79% below today’s ($72.6) stock price. Texas Capital Bancshares Inc. has been the topic of 34 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was downgraded by Piper Jaffray on Monday, August 17 to “Neutral”. Wedbush initiated it with “Neutral” rating and $54 target price in Friday, October 7 report. Sterne Agee CRT initiated Texas Capital Bancshares Inc (NASDAQ:TCBI) on Thursday, August 20 with “Neutral” rating. The firm has “Strong Buy” rating given on Thursday, November 3 by Raymond James. The stock has “Outperform” rating given by Raymond James on Thursday, July 21. The rating was downgraded by Hovde Group to “Underperform” on Friday, April 1. The firm has “Neutral” rating given on Wednesday, June 29 by Bank of America. The firm has “Strong Buy” rating by Raymond James given on Monday, May 9. The rating was downgraded by Drexel Hamilton on Friday, July 24 to “Hold”. The stock has “Buy” rating given by DA Davidson on Friday, August 28.

About 449,229 shares traded hands. Texas Capital Bancshares Inc (NASDAQ:TCBI) has risen 53.70% since April 27, 2016 and is uptrending. It has outperformed by 48.47% the S&P500.

Analysts await Texas Capital Bancshares Inc (NASDAQ:TCBI) to report earnings on January, 18. They expect $0.90 earnings per share, up 28.57% or $0.20 from last year’s $0.7 per share. TCBI’s profit will be $40.41 million for 20.17 P/E if the $0.90 EPS becomes a reality. After $0.87 actual earnings per share reported by Texas Capital Bancshares Inc for the previous quarter, Wall Street now forecasts 3.45% EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.25 in 2016 Q2. Its down 0.06, from 1.31 in 2016Q1. The ratio turned negative, as 14 funds sold all Texas Capital Bancshares Inc shares owned while 60 reduced positions. 31 funds bought stakes while 66 increased positions. They now own 46.34 million shares or 3.84% more from 44.63 million shares in 2016Q1.

Ameriprise Fincl Inc, a Minnesota-based fund reported 339,539 shares. Swiss Financial Bank holds 0.01% or 74,650 shares in its portfolio. Aperio Group Limited Liability Co holds 0% of its portfolio in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 8,983 shares. Da Davidson has 0% invested in the company for 1,828 shares. Shamrock Asset Management Lc holds 0.01% or 327 shares in its portfolio. First Dallas Securities has 0.42% invested in the company for 11,525 shares. Raymond James & Assocs has 38,324 shares for 0.01% of their US portfolio. Thompson Siegel & Walmsley Ltd Liability Corp has invested 0.25% of its portfolio in Texas Capital Bancshares Inc (NASDAQ:TCBI). The Massachusetts-based Frontier Capital Com Lc has invested 0.25% in Texas Capital Bancshares Inc (NASDAQ:TCBI). Cim Invest Mangement Inc owns 6,823 shares or 0.13% of their US portfolio. Lockheed Martin Investment Comm holds 90,200 shares or 0.42% of its portfolio. Pacific Ridge Capital Prns Limited Com accumulated 0.2% or 9,490 shares. First Mercantile Tru accumulated 0.08% or 13,353 shares. Dreman Value L L C holds 0.01% of its portfolio in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 238 shares. Teachers Inc holds 74,491 shares or 0.01% of its portfolio.

Insider Transactions: Since September 1, 2016, the stock had 0 insider buys, and 2 sales for $204,929 net activity. The insider Browning James H sold $131,375. ROSENBERG STEVE sold 1,241 shares worth $73,554.

Texas Capital Bancshares, Inc. is a bank holding and a financial holding company. The company has a market cap of $3.26 billion. The Firm is the parent of Texas Capital Bank, National Association . It has a 25.6 P/E ratio. It offers a range of loans, deposit accounts and other financial services and products.

According to Zacks Investment Research, “Texas Capital Bancshares’ primary subsidiary is Texas Capital Bank, a commercial bank that delivers highly personalized financial services to Texas-based businesses and private client individuals. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston, Plano, and San Antonio.”

TCBI Company Profile

Texas Capital Bancshares, Inc., incorporated on November 20, 1996, is a bank holding and a financial holding company. The Firm is the parent of Texas Capital Bank, National Association (the Bank). The Firm offers a range of loans, deposit accounts and other financial services and products. The Firm offers commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; real estate term and construction loans; mortgage finance lending; equipment leasing; treasury management services; wealth management and trust services, and letters of credit. The Firm provides a range of banking services for its individual customers, including personal wealth management and trust services; certificates of deposit; interest bearing and non-interest bearing checking accounts with optional features, such as Visa debit/ automatic teller machine (ATM) cards and overdraft protection; traditional money market and savings accounts; loans, both secured and unsecured, and Internet banking. The Bank offers over 10 banking centers, courier services and online banking. BankDirect, the Internet division of its bank, serves its clients round the clock through Internet banking. The Company’s wealth management and trust services include investment management, personal trust and estate services, custodial services, retirement accounts and related services. It also offers retirement products, such as individual retirement accounts and administrative services for retirement vehicles, such as pension and profit sharing plans.

More news for Texas Capital Bancshares Inc (NASDAQ:TCBI) were recently published by: Reuters.com, which released: “BRIEF-Texas Capital Bancshares Inc announces common stock offering” on November 28, 2016. Nasdaq.com‘s article titled: “Texas Capital Bancshares Reaches Analyst Target Price” and published on November 10, 2016 is yet another important article.

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